Chancellor Angela Merkel’sgovernment is pushing for an agreement within the next month to boost electric car sales in Germany as demand for the environmentally friendly vehicles fails to take off in the country. Source: Bloomberg
The German finance minister has kicked off days of debate over the 2021 budget, arguing for more debt to support the economy during the coronavirus pandemic. “It’s a really, really” large sum, admitted Scholz. Source Deutsche Welle
The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Source Reuters
Italy expects debt to rise to about 160% of gross domestic product by the end of this year despite a smaller-than-forecast contraction of the economy, officials familiar with ongoing budget talks said. The new figures, which are provisional and still subject to change, see the economy expanding 6% in 2021, the officials said, asking not to be named discussing confidential deliberations. Source Bloomberg Quint
