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Germany's incoming Chancellor pledges to do 'whatever it takes' to boost the nation's defences and moves to lift 'debt brake'

Germany's incoming Chancellor, Friedrich Merz, has pledged to enhance the nation's defenses by removing military spending from the 'debt brake' rule, a significant policy shift. This move aims to free up funds for rearmament. Consequently, German borrowing costs have surged, leading to a decline in bond prices as investors respond to the new defense strategy.
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