The commission tasked with reforming the debt brake has not delivered a proposal. Finance Minister Lars Klingbeil plans more than one trillion euros in new debt by 2030.
Berlin. The commission set up by Finance Minister Lars Klingbeil last summer remained divided. It was meant to outline ways to manage rising debt without blocking investments.
Klingbeil justified the high borrowing with defense needs. “With the black zero we cannot defend Germany against Putin,” he said after cabinet approval on Monday. More than 200 billion euros in new debt is planned for 2027.
An exception to the debt brake, agreed by the Union, SPD and Greens after the Bundestag election, enables the spending. A large part goes to defense expenditures.
