The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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From: Elroy Jetson	3/14/2025 1:48:02 PM
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The conservative CDU/CSU bloc of German election winner Friedrich Merz and the Social Democrats (SPD) have agreed with the Greens on plans for a massive increase in state borrowing ahead of a parliamentary vote next week. The plan, put forward jointly by the conservatives and the SPD, would exempt all defense spending from the country's constitutionally enshrined debt brake and create a special €500 billion ($545 billion) fund for infrastructure investment. "Germany is back," said Merz, announcing the agreement on debt reform. - dw.com "It is a clear message to our partners and friends, but also to our opponents, to the enemies of our freedom: we are capable of defending ourselves and we are now fully prepared to defend ourselves," he said. Merz also said he expects the country to release €3 billion ($3.27 billion) in military aid to Ukraine once the upper house passes the debt reform. "There will be no shortage of financial resources to defend freedom and peace on our continent," Merz stressed. "Germany is making its major contribution to the defense of freedom and peace in Europe." Meanwhile, Social Democrat co-leader Lars Klingbeil said a major government borrowing and investment push was a "powerful boost" for Europe's largest economy. "We have laid the foundation for Germany to get back on its feet and protect itself," Klingbeil said after his SPD agreed with conservatives and Greens on the historic debt package. The Greens had initially refused to back the plan, which needed their support to reach the two-thirds majority required for a constitutional amendment in the Bundestag, Germany's lower house of parliament. The outgoing Bundestag will pass the package on Tuesday and will be approved by a two-thirds majority in the upper house, the Bundesrat. This measure might have been blocked by an expanded contingent of far-right and far-left lawmakers had Merz waited until the new Parliament was seated on March 25.

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