Germany has nationalized Uniper a large gas company whose business model was largely based around importing Russian energy.
Germany's government has nationalized the country's biggest gas importing company, Uniper, expanding state intervention in the industry to prevent an energy shortage resulting from Russia's war in Ukraine. https://t.co/TKneSS2MMS
— AP Europe (@AP_Europe) September 21, 2022
Good Morning from Germany, where utility Uniper is being nationalized in a sort of Lehman moment. German govt is to become the majority shareholder in Uniper, Germany's largest gas importer, previous majority shareholder Fortum announces. Uniper shares have dropped 92.2% from ATH pic.twitter.com/yMXummxDwG
— Holger Zschaepitz (@Schuldensuehner) September 21, 2022
This is an act of desperation by the German government to deal with a self-inflicted collapse of their own economy.
We are undoubtedly going to see weirder and weirder things happen because these people are showing no signs of reversing course on any of the policies that created this situation.
