Today a commission of experts is expected to publish details on the measures to alleviate the impact of high gas prices proposed by the German government. Nevertheless, the euro will remain under pressure, as what matters is common action across Europeaccording to Commerzbank economists.
Conflict in the EU over aid measures
“Any measure that can cushion the economic effect of high energy costs this winter can support the euro.”
“What matters for the common currency is not that a single Member State decides on effective aid measures, but that there are support measures throughout the currency area. In this context, it seems problematic that at EU level there seems to be a conflict about which measures to apply.”
“It is likely that the threat of the energy crisis continues to put pressure on the euro“.
Source: Fx Street
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