Germany's prospective coalition government aims to amend borrowing rules to boost defense spending amid rising threats. The coalition, led by center-right Friedrich Merz and the center-left Social Democrats, plans to propose legislation allowing defense expenditures above 1% of GDP to be exempt from traditional debt limits. Additionally, a significant 500 billion euros fund will be established for infrastructure over the next decade. Urging immediate legislative action, Merz highlighted the urgency of bolstering Germany and Europe's defense capabilities in light of recent geopolitical challenges, including ongoing assistance for Ukraine.
In view of the increasing threat situation, it is clear to us that Europe and with Europe, the Federal Republic of Germany must now very quickly make very big efforts very quickly to strengthen the defence capability of our country and the European continent.
Merz stated that his bloc and the Social Democrats will bring legislation on the exemption for defence spending and the infrastructure package, which will be financed by loans, to Germany's outgoing parliament next week.
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