Germany to set up stabilization fund of 200 bln euros fight energy crisis

BERLIN, Sept. 29 (Xinhua) -- Germany is putting up a "defensive umbrella" of up to 200 billion euros (196 billion U.S. dollars) to stabilize the country's economy during the energy crisis, Chancellor Olaf Scholz announced on Thursday.

The country's Economic Stabilization Fund (WSF), which was set up during the COVID-19 pandemic in 2020, will manage and distribute the state aid.

With the relaunch of the fu