Breakthrough Deal May Eliminate German Coal Subsidies

After months of negotiations, politicians and leaders from the coal industry reached a breakthrough Sunday night. Government subsidies — not jobs — are to be cut back drastically and may be history as early as 2018.

Germany cannot afford long-term subsidies for the coal industry, Economics Minister Michael Glos told public broadcaster ZDF on Monday.

“It’s much better to take those economic resources and invest them in more modern, renewable energies,” he added.

Deutsche Welle