German Of The Day: Verstaatlichung

That means nationalization.

Sound familiar? Ever more “We’re from the government, and we’re here to help” from the people who created the problem in the first place.

Gas importer Uniper in nationalisation talks with German government – Terms under discussion include increasing state’s holding to 50% as pressure on supplies continues.

The German state took a 30% stake in the group in a rescue package in July, amounting to about €15bn. Credit lines were further extended by about €4bn last month but the situation has worsened since Russia severed gas supplies to Germany via the Nord Stream 1 pipeline, forcing Uniper to find alternatives.

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