Shouldn't the US be saber rattling right about now? Or is that only when Latin America does this?
This is actually more like a bailout than an expropriation. Uniper went brankrupt due to having contract obligations that were calculated with pre-war gas prices, but then having to meet these obligations with gas bought at post-war prices. Their bankruptcy was foreseeable for months. Now the government is simply buying up their stock to prevent the entire company from being liquidated.
BTW expropriations under German law are a joke, basically nationalizing here means "buying the company at regular market price".
Then once the crisis is over, the company is bankrupt, the stocks are dirt cheap, the state will sell the stocks back to private investors for pennies. That is assuming the crisis ends and the company can become profitable again (big assumption).
If the crisis does actually destroy the company then at least investors got out intact and handed off all the losses to the state
this is in support of the US effort against russia, its cold war rules, baby
bailout
Under the terms of the deal, the German government will buy Fortum's shares in Uniper for €500m (£437m) and inject €8bn (£7bn) of cash into the business.
The price tag says €500 million. How's about I pay €8 billion, Jack? :biden-alert:
My thought when I read the headline was that they're nationalizing Jupiter
Vee hav discoverred un zeory from zee Americanz. Vee haff learned zee male population goes to zee planet Jupiter to decrease zeir IQ.
The head of Germany's Jupiter Anschluss Program, Dr Berner Von Vraun, claimed that it was "Less a Nationalisation and more a National Socialisation, but that's not my department."
What like Jupiter? That's a little outside their jurisdiction.
After having privatised the profits it is now time to socialise the losses.
Capitalism works exactly as intended.
I misread Uniper as Jupiter at first glace and expected this article to be significantly more :melon-musk: :galaxy-brain:
Everyone excited by this really needs to watch the first 22 minutes of this to wrap their heads around the scam that's about to occur across the entire EU.
Germany is just setting up for it.
In recent months it has had to replace Russian supplies with alternatives from the open market, where prices have soared.
What an odd coincidence that market prices have soared right as Russia responded to western sanctions by stopping supply. Huh. :thinkin-lenin:
MGT: Modern Gas Theory. Where your response to no gas is to suggest an exploration of the Synthetic Oil tree in HOI4.
:comedian: will there be a CIA coup in germany or does NATO membership exempt them from that kind of thing?
Why would the US coup its own colony?
to make sure they stay a colony. Though I wouldn't call Germany a US colony. That's insulting to actual victims of US colonialism. While Germany isn't exactly free of US influence I wouldn't compare it to something like Hawaii, Puerto Rico, or American Samoa, or Guam.
Would the US coup Puerto Rico?
If Puerto Rico ever elected a governor who declared independence from the US, that might do the trick.
