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Incoming German Chancelor Merz: Outlines defense spending exemptions
EUR
- Spending on civil protection, IT security, intelligence, aid to illegally attacked states will be exempt from debt brake beyond 1% of GDP as part of defense spending
- Germany’s states will get to spend some 16 billion euros extra through debt finance
- Special fund of 500 billion euros over 12 years to be created, of which 100 billion to be spent by states
- Climate and Transformation Fund will get 100 billion euros from the 500 billion euro fund
- This is a clear message to our enemies that we are ready to defend peace on our continent
- Germany is back
Source: Forex Live