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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 19, 2025

    Featured image for article about Headlines

    BERLIN/PARIS (Reuters) -The new German government has signaled to France it will no longer object to treating nuclear power on a par with renewable energy in EU legislation, a French official said on Monday, confirming an earlier report.

    The EU's two largest economies have long been at loggerheads over whether to promote atomic power to achieve CO2 emissions targets, delaying policymaking on tackling climate change in the bloc.

    France, which gets around 70% of its energy from atomic power, is nuclear's main champion in Europe. Germany, which has phased out its nuclear plants, has viewed it as low-carbon but not renewable.

    However new German Chancellor Friedrich Merz, who has called exiting nuclear energy a mistake, has promised a reset in relations with France.

    A French official confirmed a Financial Times report published earlier on Monday that Germany had signaled it was dropping its long-held opposition to nuclear power, in the first concrete sign of rapprochement with France.

    The official pointed to a joint editorial by Merz and French President Emmanuel Macron earlier this month in Le Figaro, in which the two leaders said their countries would "realign their energy policies based on climate neutrality, competitiveness, and sovereignty".

    "This involves applying the principle of technological neutrality, ensuring non-discriminatory treatment of all low-carbon energies within the EU," they said.

    A German economy ministry spokesperson declined to comment on the report.

    Nuclear energy is seeing a burgeoning revival across Europe, with Belgium passing a law that puts a stop to a planned phase-out, while Sweden and some countries in central Europe are planning to build more nuclear reactors.

    (Reporting by Sarah Marsh in Berlin and Michel Rose in Paris; additional Reporting by Ludwig Burger in Berlin; editing by Thomas Seythal and Jan Harvey)

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