France and Germany will protect households and companies from a sharp rise in prices

France and Germany have pledged to act together to protect households and businesses from soaring energy prices and use fiscal policy to combat record high inflation, Reuters reported.

French Finance Minister Bruno Le Maire and his German counterpart Christian Lindner showed unity at the start of talks between eurozone finance ministers in Prague, telling reporters they would cooperate on policy issues. This is a signal that France and Germany are starting this meeting together. This is a signal that we stand shoulder to shoulder, not only here, but also politically,” Lindner said.

France, Germany and other countries have announced multi-billion dollar packages to help businesses and consumers cope with rising inflation. The think tank Bruegel estimates that EU state support has already reached 282 billion euros, and more is expected.

But support itself can spur inflation, creating a vicious circle. Eurozone finance ministers will discuss how to coordinate policies to prevent this.

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France and Germany will protect households and companies from a sharp rise in prices

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