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Reuters
Reuters
Business
By Jan Strupczewski and Gabriela Baczynska

Pressure on Germany as energy crunch revives EU divisions over joint debt

A general view of pipelines at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. REUTERS/Annegret Hilse

Two top European Union officials on Tuesday called for joint borrowing to help the 27-nation bloc navigate the energy crunch together, after Germany faced criticism for going its own way with huge subsidies its peers could never afford.

The energy price crisis - aggravated by Russia slashing gas supplies to the EU following Western sanctions over Moscow's war against Ukraine - is threatening recession in Europe as it recovers from the COVID pandemic.

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