German Chancellor Olaf Scholz said on Monday that they will continue to meet regularly with unions on energy price and inflation issues while noting that the current crisis will not be over in a few months, as reported by Reuters.

Additional takeaways

"We face a historic challenge."

"Agreed with social partners today on an understanding of the current situation, will develop tools in coming weeks."

"We stand together with social partners."

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its rivals. As of writing, EUR/USD was up 0.05% on the day at 1.0433.