Breakingviews category · November 24, 2023The German government is working hard to demonstrate the foolishness of the country’s iron-clad ban on large budget deficits.
It now says it will suspend the “debt brake” after the Constitutional Court forced it to cancel some 60 billion euros worth of fiscal spending that it had included in a 210 billion euro climate and transformation fund.
But the welcome relief is only temporary, and the harm is done.
The budget crisis will cripple the economy for years to come, for three reasons.
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