Germany is set to approve a massive military and infrastructure spending plan, supported by various political parties. The initiative, characterized by its 'bazooka' approach, involves exempting defense spending above 1% of GDP from debt rules and establishing a 500 billion euro infrastructure fund over 12 years. This comes in response to heightened concerns over Russia and confidence in US military support. With a historical reluctance to significantly invest in its military, Germany aims to bolster its armed forces as NATO faces challenges, especially in light of Russia's actions in Ukraine.
Merz's top priority is to build up the armed forces as fears grow Russia could in the future threaten an EU ally, with confidence waning that the United States would come to Europe's defence.
Germany’s giant spending 'bazooka' faces a final hurdle as the upper house must sign off on the cash splurge and emphasizes the importance of strengthening Europe’s defences.
The plan exempts defence spending above one percent of GDP from strict debt rules and sets up a 500-billion-euro fund for infrastructure over 12 years.
The parliamentary commissioner for the armed forces, Eva Hoegl, has warned the military still has "too little of everything" despite recent increases in defense funding.
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