Scholz: Germany to extend lifetime of all three remaining nuclear power plants

Scholz has hinted at a coalition deal on this for a few weeks, so it's no big surprise. However there were some rumblings that it could be blocked. In any case, the question for now is how long they're extended for.

In the short term, this will relieve some of the pressure on natural gas and electricity prices this winter. It's good news for the euro, at the margins, but would have been 95% priced in.

An interesting development was China banning the re-selling of LNG to Europe this weekend. That could be a big problem when it comes to securing supplies mid-winter or refilling storage next year.

Update: The extension is only until April 15, rather than a longer-term extension that some had pushed for. On the margin, this simply kicks the can down the road by four months.

/EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term