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.
That means emergency plan. Another good one is Schutzschirm. That means protective shield.
But both euphemisms point to another one: Staatshilfe, meaning state support or government assistence. And all any of this means, of course, is taxpayer money. In this particular case, the government burning taxpayer money to fix a problem it created in the first place (see German dream world energy policy).
That means state support or government assistence. And that means, of course, taxpayer money.
And this is ususally needed, as in this case, after the state and/or government burning the taxpayer money got the company that needs it into this situation in the first place (see “renewable energy”).
Germany in bailout talks with Uniper amid gas crisis – Germany’s Uniper (UN01.DE) is in talks about a possible government bailout as the financial fallout from dwindling supplies of Russian gas reverberates across Europe, sending shares in the energy company sliding.
Observing Hermann 