Germany Unveils €200 Billion Package To Cap Soaring Energy Costs

The German government has announced that it will ditch earlier plans for a gas levy on consumers and instead will introduce a gas price cap to curb soaring energy bills, with German Chancellor Olaf Scholz setting out a €200 billion ($194 billion) “defensive shield” to protect companies and consumers against the impact of soaring energy prices. "The German government will do everything in its power to bring [energy] prices down. We are now putting up a large defensive umbrella ... which we will endow with €200 billion," Scholz…