Geopolitical events
On June 21, 2026, the German Bundestag ratified the "Industrial Electricity Price Cap Act," a €35 billion fiscal intervention aimed at stabilizing energy--intensive sectors amid the volatility of the "West Asia War." The legislation guarantees a subsidized rate of 6 cents per kilowatt--hour for the chemical, steel, and glass industries through 2030. Chancellor Olaf Scholz characterized the policy as a "strategic bridge" to maintain industrial competitiveness during the green transition. While the measure is intended to prevent deindustrialization, it has sparked debate regarding the long--term sustainability of the Climate and Transformation Fund and its compliance with national debt constraints.