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

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.

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.