Friedrich Merz, Germany's likely next chancellor, announced plans to raise hundreds of billions of euros to bolster defense and infrastructure, citing concerns about the US's commitment to Europe and NATO. The announcement followed exploratory talks between Merz's Christian Democrats (CDU), the Christian Social Union (CSU), and the Social Democrats (SPD). The parties agreed to propose a parliamentary motion to amend the German constitution, easing restrictions on defense spending beyond 1% of Germany's GDP. Merz emphasized the need for Germany's economy to grow to support increased defense spending and advocated for a €500 billion special fund for industrial and infrastructural investments to stimulate the economy. SPD leader Klingbeil stated that the constitutional debt brake would be revised to encourage investment. Merz also aims for immediate approval of a €3 billion aid package for Ukraine, currently stalled in parliament. Further coalition talks are scheduled to address budget, migration, economic competitiveness, and security matters.
Germany Considers Constitutional Change to Boost Defense and Infrastructure Spending
Read more news on this topic:
Did you find an error or inaccuracy?
We will consider your comments as soon as possible.