Chancellor Scholz: Will make it through the winter if Germany continues to adapt

Dhwani Mehta FXStreet

Germany’s Chancellor Olaf Scholz said on Tuesday, the country “will make it through the winter if citizens, companies and policymakers continue to adapt to the country's changed energy situation.”

Additional quotes

We cannot expect energy deliveries from Russia for the foreseeable future.

We expressly support the EU commission's plans to build new partnerships in important growth regions, with Chile and Mexico, prospectively with Mercosur, and with India and Australia and others.

Putin wants to divide Europe and German society but we will not allow this.

The government is urgently considering gas price brake proposals and clarifying how to adopt and implement.

We need international agreement on energy prices, this will be discussed at the G7.

We will discuss inflation reduction act with the us, there must be no customs war.

The ratification process for EU free trade agreements must be reconsidered.

Market reaction

Amid risk aversion and firmer Treasury yields, EUR/USD is keeping its range trade intact just above 0.9700, up 0.16% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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