European Union, Germany say goodbye to austerity

The decision of the Parliament, approved by 512 votes (a majority of more than two-thirds), represents a turning point in the country's economic policy, leaving behind years of fiscal austerity and strict compliance with debt.

The proposed reforms, which also received the support of the High camera A few days later, they allowed the creation of a special fund of 500.000 billion euros financed by debt to invest in infrastructure over the next 12 years, unlimited spending on defense as long as it exceeds 1% of GDP, and granted greater flexibility in borrowing to regional governments. In addition, to ensure that the plan also had the support of the Greens, the future Chancellor Merz agreed that 100.000 billion of the new infrastructure fund would be allocated to the Climate Transition Fund and included the goal of achieving climate neutrality by 2045 in the Constitution. This is a historic change for Germany, whose economy has been reeling since the war in Ukraine, and for Europe as a whole, which is threatened by the withdrawal of United States in the Old Continent.

Source: CESCE

Any questions about this news?

Talk to Coexia, the AI ​​of the foreign trade

Enter Make another general inquiry

International business service providers

Training

ESIC

ESIC University is a leading academic institution that offers specialized training in business, marketing…read more...

Suggested services:

• Masters in Commerce
• In-Company Training
• Business Degrees

Training

VALENCIA PORT FOUNDATION

VALENCIA PORT FOUNDATION The Valenciaport Foundation positions itself as the central hub of knowledge for…read more...

Suggested services:

• Logistics and Port Training
• Master's Degree in Port Management
• Innovation in Logistics

View the complete supplier guide →