Berlin, Sep 29 (AP) Germany plans to spend up to 200 billion euros (USD 195 billion) helping consumers and businesses cope with surging energy prices.

Chancellor Olaf Scholz said on Thursday that the government is reactivating an economic stabilizing fund previously used during the global financial crisis and the coronavirus pandemic.

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Scholz said Russia's decision to cut natural gas to Europe and the recent leaks on two pipelines showed further Russian energy supplies couldn't be expected in the near future.

Finance Minister Christian Lindner insisted that the fund would not entail further regular borrowing, saying Germany is “expressly not following Great Britain's path”. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)