Germany's New Finance Chief Rules Out Federal Funding Freeze [Yahoo! Finance Canada]
Intel Corporation (INTC)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Joerg Kukies, appointed last week after Chancellor Olaf Scholz fired his predecessor and brought a premature end to the ruling coalition, said it's still unclear whether Scholz's minority government can get a supplementary budget for this year and the 2025 finance plan approved in parliament. To do so, they'll need the votes of opposition lawmakers. Friedrich Merz, the leader of the center-right CDU/CSU alliance, signaled earlier Tuesday the group may be willing to cooperate on this year's budget, but Kukies said the situation remained very much in flux. He conceded that it's “not realistic” that the 2025 budget will get approval by the end of the year, meaning the government will be forced to resort to a temporary finance planning process to keep funds flowing. While it's not an ideal state of affairs and some new projects may face delays, Kukies said it's not technically problematic and has happened multiple times before, including earlier this year
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