What's In Germany's Giant Spending 'Bazooka'? [Barron's]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Barrons
Chancellor-in-waiting Friedrich Merz has voiced confidence it will pass, as it did through the lower house last week, with the help of the Social Democrats of outgoing leader Olaf Scholz and the Greens. Merz has stressed the need to build up Europe's defences against a hostile Russia as US President Donald Trump has cast doubt on the future strength of the NATO alliance. German media have scrambled for superlatives to describe the fiscal plan, labelling it an "XXL-sized" funding "bazooka". The plan exempts defence spending above one percent of GDP from strict debt rules and sets up a 500-billion-euro ($545-billion) fund for infrastructure over 12 years. All in all, it paves the way for over one trillion euros (dollars) worth of outlays in Europe's top economy, which has shrunk for the past two years. Here is an overview of the spending plan: Merz's top priority is to build up the armed forces as fears grow Russia could in the future threaten an EU ally, with confidence wa
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