Germany’s outgoing lower house of parliament planned to hold a special session yesterday to debate a E500-billion fund for infrastructure and sweeping changes to borrowing rules in Europe’s largest economy to bolster defence.
The winner of Germany’s election last month Friedrich Merz wants to secure the funds before a new parliament convenes on March 25, where they risk being blocked by an expanded contingent of far-right and far-left lawmakers.
The prospect of such a spending shift in a country better known for its frugality has rocked markets over the past week, helping lift the euro to five-month highs against the dollar.
The financial package is not a done deal though, with Merz’s conservatives and likely future coalition partners the centre-left Social Democrats (SPD) needing to win over the Greens to…
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Star South Africa (Digital) - 1 Issue, 2025-03-14