Tag #Fiscal Policy

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dw.com

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Mar 21, 01:13

Bundesrat Vote on German Debt Brake Could Trigger Political Crisis

Germany's Bundesrat is voting on March 17th on a constitutional amendment relaxing the debt brake, enabling increased spending on defense, infrastructure, and climate. The vote's outcome is uncertain due to regional objections, and a rejection could cause a political crisis and delay the spending pl...

Bundesrat Vote on German Debt Brake Could Trigger Political Crisis

Germany's Bundesrat is voting on March 17th on a constitutional amendment relaxing the debt brake, enabling increased spending on defense, infrastructure, and climate. The vote's outcome is uncertain due to regional objections, and a rejection could cause a political crisis and delay the spending pl...

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What is the significance of the Bundesrat's vote on Germany's constitutional amendment concerning the debt brake?

Germany's parliament is voting on a constitutional amendment to relax the country's debt brake, paving the way for increased spending on defense, infrastructure, and climate protection. The Bundestag (lower house) approved the amendment; the Bundesrat (upper house), representing Germany's 16 states, is to vote on March 17th. Failure to secure a two-thirds majority in the Bundesrat could delay or even block the spending plan.

politico.eu

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Mar 21, 07:11

Germany's Budget U-Turn Shakes EU

Germany drastically changed its budget policy, increasing defense spending by hundreds of billions of euros and attempting to rewrite EU fiscal rules, a move driven by the Ukraine conflict but met with skepticism from other EU nations due to concerns about debt sustainability and unilateralism.

Germany's Budget U-Turn Shakes EU

Germany drastically changed its budget policy, increasing defense spending by hundreds of billions of euros and attempting to rewrite EU fiscal rules, a move driven by the Ukraine conflict but met with skepticism from other EU nations due to concerns about debt sustainability and unilateralism.

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What were the immediate impacts of Germany's sudden reversal of its budget policy and its attempt to rewrite EU fiscal rules?

Germany dramatically reversed its budget policy, increasing defense spending by hundreds of billions of euros and attempting to rewrite EU fiscal rules to exempt this spending. This was driven by a perceived need for rapid security upgrades following the Ukraine conflict but met with skepticism from EU partners. The move, while welcomed in part for increased German investment, was criticized as a unilateral action.

faz.net

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Mar 21, 10:12

German Bundesrat Poised to Approve Controversial Debt Package

The German Bundesrat is expected to approve a debt package this Friday, enabling German states to borrow up to €15 billion in 2024 and receive €100 billion for infrastructure over 12 years, despite some legal challenges and political opposition.

German Bundesrat Poised to Approve Controversial Debt Package

The German Bundesrat is expected to approve a debt package this Friday, enabling German states to borrow up to €15 billion in 2024 and receive €100 billion for infrastructure over 12 years, despite some legal challenges and political opposition.

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What are the immediate financial implications of the German debt package's potential approval for German states?

The German Bundesrat is likely to approve a debt package allowing up to €15 billion in additional state debt and €100 billion in infrastructure funds over 12 years. This follows a similar Bundestag approval, requiring a two-thirds majority. The package modifies the debt brake for German states, enabling structural borrowing.

zeit.de

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Mar 21, 13:14

Germany Approves Multi-Billion Euro Spending Package, Loosening Debt Rules

Germany's parliament approved a multi-billion-euro spending package for defense, infrastructure, and climate protection, loosening debt restrictions to fund projects and provide states with additional borrowing power.

Germany Approves Multi-Billion Euro Spending Package, Loosening Debt Rules

Germany's parliament approved a multi-billion-euro spending package for defense, infrastructure, and climate protection, loosening debt restrictions to fund projects and provide states with additional borrowing power.

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How will the increased borrowing capacity granted to German states impact their financial situations and policy decisions?

The package modifies three articles of the Basic Law, enabling theoretically unlimited spending on defense and related sectors. A significant portion of infrastructure spending (€500 billion) will be outside the debt brake, with €100 billion earmarked for climate protection. States also gain increased borrowing power.

euronews.com

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Mar 21, 16:11

Germany Approves €500 Billion Spending Bill, Amending Fiscal Rules

Germany's Bundesrat approved a €500 billion spending bill for defense and infrastructure, amending fiscal rules to allow increased military spending and investments, reflecting a shift in the country's financial and geopolitical approach following negotiations involving the Greens and concessions by...

Germany Approves €500 Billion Spending Bill, Amending Fiscal Rules

Germany's Bundesrat approved a €500 billion spending bill for defense and infrastructure, amending fiscal rules to allow increased military spending and investments, reflecting a shift in the country's financial and geopolitical approach following negotiations involving the Greens and concessions by...

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How did the political landscape and negotiations influence the passage of this landmark bill?

The bill's passage reflects a shift from Germany's previous fiscal conservatism, driven by factors such as the Ukraine conflict and evolving geopolitical dynamics. The €500 billion fund, including €100 billion for climate investment, will enable substantial investments in defense and infrastructure, altering Germany's economic and security strategies. This follows concessions by Chancellor-in-waiting Merz to secure support from the Greens.

theguardian.com

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Mar 21, 07:11

UK Chancellor Faces Pressure to Breach Fiscal Rules

UK Chancellor Rachel Reeves will present her spring statement next week, facing pressure to breach her fiscal rules due to rising borrowing costs, weak economic growth, and stubborn inflation; experts warn against kneejerk reactions and suggest a more flexible approach.

UK Chancellor Faces Pressure to Breach Fiscal Rules

UK Chancellor Rachel Reeves will present her spring statement next week, facing pressure to breach her fiscal rules due to rising borrowing costs, weak economic growth, and stubborn inflation; experts warn against kneejerk reactions and suggest a more flexible approach.

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What are the immediate consequences if Chancellor Reeves adheres to her fiscal rules in the face of current economic forecasts?

Chancellor Rachel Reeves faces pressure to breach her self-imposed fiscal rules due to rising borrowing costs, weak economic growth, and persistent inflation, which are expected to eliminate the £9.9bn headroom she had in October. The Office for Budget Responsibility (OBR) forecasts indicate that without action, these rules will be broken, leading to potential benefit cuts and spending restrictions.

welt.de

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Mar 21, 07:11

German Bundesrat Approves Increased Borrowing for Infrastructure and Climate Protection

The German Bundesrat approved a constitutional amendment allowing increased borrowing for infrastructure and climate protection, exceeding 500 billion euros, with Bavaria providing crucial votes; the amendment also relaxes the debt brake for federal states.

German Bundesrat Approves Increased Borrowing for Infrastructure and Climate Protection

The German Bundesrat approved a constitutional amendment allowing increased borrowing for infrastructure and climate protection, exceeding 500 billion euros, with Bavaria providing crucial votes; the amendment also relaxes the debt brake for federal states.

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What immediate impact will the German Bundesrat's approval of the constitutional amendment have on national spending and fiscal policy?

The German Bundesrat approved a constitutional amendment allowing for increased borrowing, primarily to fund infrastructure and climate protection projects. This was achieved with support from Bavaria, crucial for reaching the required two-thirds majority. The amendment also relaxes the debt brake for federal states.

smh.com.au

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Mar 21, 07:11

Australia's Hidden Budget Deficit: Off-Budget Items Mask True Fiscal Reality

Australia's Treasurer Jim Chalmers's upcoming budget will show an underlying deficit of approximately $20 billion; however, the inclusion of off-budget items, such as loans and investments, could nearly double the actual deficit to approximately $40 billion, raising concerns about fiscal transparenc...

Australia's Hidden Budget Deficit: Off-Budget Items Mask True Fiscal Reality

Australia's Treasurer Jim Chalmers's upcoming budget will show an underlying deficit of approximately $20 billion; however, the inclusion of off-budget items, such as loans and investments, could nearly double the actual deficit to approximately $40 billion, raising concerns about fiscal transparenc...

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How do the accounting practices related to "off-budget" items impact the transparency and accountability of government spending, and what are the long-term consequences of this approach?

The practice of classifying certain government expenditures as "off-budget" items, including loans and investments, significantly distorts the true picture of Australia's fiscal position. These items, totaling $20.8 billion for 2024-25, are excluded from the underlying cash balance, which only includes day-to-day operations and investments in non-financial assets. This leads to an artificially smaller deficit figure than the actual spending.

news.sky.com

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Mar 21, 10:12

Germany Approves Massive Defense Spending Increase

The German parliament is set to approve a plan to increase defense and infrastructure spending by over €500 billion, loosening post-2008 debt rules; this comes amid concerns over Russia's potential threat to NATO.

Germany Approves Massive Defense Spending Increase

The German parliament is set to approve a plan to increase defense and infrastructure spending by over €500 billion, loosening post-2008 debt rules; this comes amid concerns over Russia's potential threat to NATO.

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What is the immediate impact of Germany's planned defense spending increase, and how will it affect European security?

Germany's parliament is poised to approve a plan that will significantly increase defense and infrastructure spending. This involves loosening strict debt rules, allowing for over €500 billion in investment. The plan passed the lower house with a strong majority and is expected to pass the upper house today.

zeit.de

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Mar 21, 13:14

Bundesrat Approves Debt Package for Defense and Infrastructure

The German Bundesrat approved a debt package allowing for increased borrowing to fund defense and infrastructure, exceeding existing debt limits. This follows similar approval in the Bundestag, and despite procedural criticism, the package passed with a two-thirds majority due to concerns about Russ...

Bundesrat Approves Debt Package for Defense and Infrastructure

The German Bundesrat approved a debt package allowing for increased borrowing to fund defense and infrastructure, exceeding existing debt limits. This follows similar approval in the Bundestag, and despite procedural criticism, the package passed with a two-thirds majority due to concerns about Russ...

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How did the changed geopolitical landscape influence the decision to increase the debt ceiling?

The approval reflects a shift in priorities due to Russia's aggression and the transatlantic crisis, necessitating increased defense spending. Concerns about infrastructure deficits and the need for climate action also fueled the decision. Despite criticism of the process, the urgency of the situation led to the package's adoption.

es.euronews.com

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Mar 21, 22:09

Germany Approves €500 Billion Spending Bill for Infrastructure and Defense

The German Bundesrat approved a bill unlocking €500 billion for infrastructure and defense projects over 12 years, modifying Germany's fiscal rules and overcoming opposition from some state governments.

Germany Approves €500 Billion Spending Bill for Infrastructure and Defense

The German Bundesrat approved a bill unlocking €500 billion for infrastructure and defense projects over 12 years, modifying Germany's fiscal rules and overcoming opposition from some state governments.

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How did the German government overcome political obstacles to pass this significant spending bill?

This landmark legislation fundamentally alters German fiscal policy, reflecting a shift in national priorities towards defense and infrastructure. The €500 billion infrastructure fund includes €100 billion for climate investments, a concession to secure Green Party support. The decision overcomes opposition from Left party members in some state governments.

kathimerini.gr

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Mar 21, 07:11

Greece to Gain Fiscal Space from EU's Stability Pact Escape Clause

The European Commission's White Paper introduces a Stability Pact escape clause allowing increased defense spending, potentially providing Greece with up to €500 million in fiscal space by 2025, enabling potential tax cuts or investment increases but with details pending.

Greece to Gain Fiscal Space from EU's Stability Pact Escape Clause

The European Commission's White Paper introduces a Stability Pact escape clause allowing increased defense spending, potentially providing Greece with up to €500 million in fiscal space by 2025, enabling potential tax cuts or investment increases but with details pending.

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What immediate fiscal impact will the Stability Pact's escape clause have on Greece's budget, and what are the potential consequences?

Greece will benefit from the Stability Pact's escape clause, allowing increased defense spending and potentially enabling earlier fiscal relief than initially anticipated in 2026. However, the exact fiscal space remains unclear, pending clarification on whether the increase is calculated as a percentage of GDP or a fixed amount.

Showing 409 to 420 of 788 results