E.ON says nuclear damages sought total 8 billion euros

FRANKFURT (Reuters) - Damages sought by E.ON AG from the enforced shutdown of nuclear power stations total 8 billion euros ($9.97 billion), a company spokesman said on Wednesday.

Energy group E.On is to seek damages of about 8bn euros over from the enforced shutdown of German nuclear power stations.

In what was painfully obvious to everyone with half a brain months ago (see here) Japan's desperate gambit at reflating would backfire massively by sending energy prices soaring in a world in which Japan no longer has access to internally producer, nuclear power plants and is forced to import all of its energy from abroad.

One puzzling aspect of ECB president Mario' Draghi's Outright Monetary Transactions (OMT) plan to save the eurozone is his doing so before the German constitutional court had approved the ESM. In spite of Draghi's emphasis on conditionality, OMT puts Germany directly at risk in an unlimited way. This modification to the ESM makes the constitutional case against it is much stronger.

Last week's summit of EU leaders in Brussels brought the "right answers" to the problems facing the eurozone, German Finance Minister Wolfgang Schaeuble has told a German newspaper.In an interview to be published on Sunday in the Frankfurter Allgemeine Sonntagszeitung, Schaeuble said: "The Brussels summit brought the right answers to the problems facing" eurozone members.EU leaders had established "a clear plan for growth" in 2013, he said.

FRANKFURT (Reuters) - In

By Marc Chandler:There have been two developments that are serving to keep the euro consolidating in the North American morning. The first has to do with the Germany Constitutional Court and the second involves Greece.

German power suppliers are suing the government for 15 billion euros ($19 billion) in damages over the decision to abandon nuclear power, the Frankfurter Allgemeine Zeitung reported Wednesday.The country's biggest power utility E.ON, alone, wants at least 8.0 billion euros, the newspaper said, without revealing its sources.