The parties hoping to form Germany’s next government have agreed to overhaul borrowing rules and create a €500 billion ($536 billion) infrastructure fund in a tectonic spending shift to revamp the military and revive growth in Europe’s largest economy.
Friedrich Merz’s conservatives and the Social Democrats (SPD), who are in negotiations to form a coalition after a national election last month, will put their proposals to the German parliament next week.
Merz, Germany’s likely next chancellor, has seized the moment after the return of Donald Trump to the White House put the transatlantic alliance in turmoil and underlined the urgency for Europe to strengthen its
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