UNSaveSpara
Expand-Left
Full Screen Friedrich Merz, which is expected to be Germany’s next Chancellor, promises billions to the defense. Photo: Ebrahim Noroozi/AP/TT
Germany’s Christian Democrats and Social Democrats have agreed to ease the debt brake in order to invest multibillion amounts on defense.
This is announced by Friedrich Merz, who is expected to be new Chancellor after Olaf Scholz’s election debt in February.
Infrastructure investments of up to EUR 500 billion for ten years are also included in the agreement, which takes place within the framework of government talks between Merz Christian Democrats (CDU/CSU) and Social Democratic SPD.
The defense initiative will be resolved by a comprehension of the constitutional debt brake, which has long been a budget -political holy grail in Germany. The proposal means that all investments that exceed one percent of GDP – corresponding to about EUR 45 billion or half a trillion in the current situation – are exempted from the otherwise strict rules on borrowing.
In order to club the decision, a qualified majority of two -thirds in the Bundestag is required, which means that the schedule is narrow. In just a few weeks, a new parliament will take up, where the outer parties together have more than a third of the mandate. Therefore, Merz wants to get a voting with the outgoing congregation already next week.