Nabucco’s future uncertain 3

German Chancellor, Angela Merkel, has declared today after the informal EU summit called by the current Czech Presidency of the European Union and the Presidency of the European Commission in concern with the effects of the economic crisis and possible remedies, that Germany is against any public funding for the Nabucco project. This means that any hopes for EU funds to help develop this alternative energy route have been dashed. Without German support it is doubtful than any funding will be released in order to give the go ahead for this long delayed pipeline that would have circumvented the Russian monopoly on gas deliveries to Europe.

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