Friedrich Merz, Germany's chancellor-in-waiting, announced a significant shift in national policy, securing Green party support for an ambitious funding plan aimed at boosting defense and infrastructure spending. This strategic move comes after extensive negotiations and is crucial for Germany's independence in security matters. The plan involves relaxing Germany's debt brake to allow for greater borrowing, particularly for defense spending if it exceeds 1% of GDP. This deal is considered necessary in light of recent global challenges, including the pandemic and the war in Ukraine.
Germany's conservative chancellor-in-waiting, Friedrich Merz, has secured backing from the Green party for a radical increase in defence and infrastructure spending.
Merz aims to finalize a funding deal to enhance defense and infrastructure before parliament meets, seeking a two-thirds majority for constitutional changes.
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