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In November 2023, Germany's Federal Constitutional Court (Bundesverfassungsgericht) declared parts of the government's budget policy unconstitutional. Scholz's cabinet had reallocated unspent debt proceeds – originally designated to mitigate the COVID-19 pandemic – to its climate action budget.
Germany's intensifying budget crisis is hitting Europe's top economy where it hurts most: its reputation as a reliable partner for industry, some of which now fears that Berlin may not stand by ...
Germany's governing coalition reached a deal Wednesday to resolve a budget crisis triggered by a court ruling last month, agreeing to cut some subsidies and spending while stressing that Berlin ...
BERLIN/FRANKFURT (Reuters) -German Chancellor Olaf Scholz said on Saturday he was confident that tough talks with coalition partners to fix the country's 2024 budget following a landmark court ...
Germany's balanced budget amendment, also referred to as the debt brake (German: Schuldenbremse), is a fiscal rule enacted in 2009 by the First Merkel cabinet.The law, which is in Article 109, paragraph 3 and Article 115 of the Basic Law, Germany's constitution, is designed to restrict structural budget deficits at the federal level and limit the issuance of government debt.
A court in Stuttgart convicts a dual Russian-German national of violating export laws by delivering electronic components to Russian firms involved in the production of military equipment from 2020 to 2023 and sentences him to six years and nine months' imprisonment. [73] Germany issues plans to halve its military aid to Ukraine in 2025. [74]
Leaders of Scholz's three-party coalition have been wrangling over money since Germany's highest court annulled a decision to repurpose 60 billion euros ($65 billion) originally meant to cushion ...
That forced the coalition into a hasty rehash of the 2024 budget, complete with subsidy cuts that prompted protests by farmers. The governing parties squabbled at length about how to put together a 2025 budget before Scholz, Lindner and Vice Chancellor Robert Habeck, from the Greens, presented an agreement in early July.