Historic levels of spending on military and infrastructure secured in Bundestag with last-minute backing of GreensGermany’s parliament has voted in favour of unleashing historic levels of spending to boost the military of Europe’s biggest economy and inject its infrastructure with investments worth hundreds of billions of euros.The conservatives of Friedrich Merz and the Social Democrats (SPD), who are likely to form a new coalition following last month’s election, led the drive for the creation of a €500bn fund and relaxation of its constitutionally protected debt rules. They secured the last-minute backing of the Greens, which was needed to push the plans through the outgoing parliament. Continue reading...
German MPs approved a €500bn spending boost for military and infrastructure in response to "Putin's war of aggression," requiring constitutional debt rule changes. The legislation, backed by a majority of MPs, is seen as necessary for national and European security by some, while others warn of future debt burdens. The move is also motivated by a need for German independence from the US. The legislation now moves to the upper house of parliament.
