Reply To: Energy Crisis Pushes German Gas Giant Uniper SE To Seek 9 Billion Euro Bailout


September 21 – Wall Street Journal (Rochelle Toplensky): “Germany’s nationalization of gas giant Uniper… lays bare the seismic ructions in the once-sleepy world of European utilities triggered by the new Cold War with Russia. Investing in the sector will change dramatically. Berlin said it would inject €8 billion… It will also buy Finnish utility company Fortum’s majority stake in Uniper at the same rate. The deal ups the ante after the state’s first attempted bailout, announced just two months ago, proved insufficient… There are echoes of the 2008 financial crisis. Even if Lehman Brothers was the bank that didn’t get bailed out, Uniper is similarly too big to fail and German government officials are warning of further bailouts.”