Likely new Chancellor Friedrich Merz may seek approval of the outgoing Bundestag for constitutional changes on expenditure before its mandate expires this month
I understand the logic of borrowing to fund increased defence spending. But I confess to feeling uneasy when the rulers of Europe (will the UK be exempt) enthusiastically form a consensus in favour of more borrowing rather than inviting their voters to face hard choices. Of course they would. And I would readily understand if Germans were to conclude that relaxing the Debt Brake now looks like subterfuge and is hardly the best expression of democratic accountability. And then they feign surprised when the “populists” benefit from challenging their business model.
I understand the logic of borrowing to fund increased defence spending. But I confess to feeling uneasy when the rulers of Europe (will the UK be exempt) enthusiastically form a consensus in favour of more borrowing rather than inviting their voters to face hard choices. Of course they would. And I would readily understand if Germans were to conclude that relaxing the Debt Brake now looks like subterfuge and is hardly the best expression of democratic accountability. And then they feign surprised when the “populists” benefit from challenging their business model.
It certainly has a degree of, shall we say, reputational risk.