Solz on the 200 billion package: “The measures are justified, we are doing the same as the other countries”

The chancellor called it justified Olaf Solz his government’s plan to protect the economy from the energy crisis with a package of height 200 billion eurosresponding to criticism from the European Commission and other member countries of undue advantage for German companies and undermining of European solidarity.

“The measures we are taking are justified. They are not isolated and have been adopted in other countries as well. Like many other countries, we will do the same with natural gas. Some have long been in the process of doing exactly what we have planned for this year and the next two years, with great support and measures. Maybe not everyone has noticed that.”Mr Solz said during a joint press conference earlier today with the Prime Minister of the Netherlands Mark Rutteafter the conclusion of the meeting of the German-Dutch climate council, with the participation of ministers from both countries.

Mr. Scholz even characterized the German plan as “very smart, very balanced and very decisive package” and pointed out that the money that will be allocated will also support natural gas importers. “We know the need to maintain solidarity in Europe and much of what we do, e.g. the creation of conditions for the import of natural gas, do not concern only us, but are also useful for other European countries”he said, to add: “In terms of concrete steps we take to help our citizens, it’s clear that every country needs to do something. There are other countries with tools that are not very different from ours.”.

For his part, Mr. Rutte supported the German initiative, stressing that the Germany has the right to take national measures, while rejecting the proposal to introduce a cap on the price of natural gas from the EU “as ideology” and warned of the risk of gas not being sold in Europe, but in Asia. However, the two leaders agreed that the absolute priority at the moment is the reduction of energy prices while ensuring the energy supply throughout Europe. Olaf Solz pointed out that natural gas prices remain too high, to an extent that is not justified by the supply-demand relationship, and stressed the need to continue the effort to combat speculation. He even expressed the belief that natural gas exporters such as Norway, the US and Arab countries are willing to cooperate in order to lower prices.

The two leaders also appeared wary of taking on joint debt in the EU to deal with high gas prices, as has happened during the coronavirus pandemic. Mr. Soltz referred to Recovery Fund which, as he said, has not been exhausted. “We have a huge program of 750 billion euros, most of which has not yet been used and can be particularly effective at this time. These funds could now help,” he said. “Before we think about new funds, we should use the ones already available,” Mr Rutte agreed.

RES-EMP

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