Germany’s parliament has voted in favour of unleashing historic levels of spending to boost the military of Europe’s biggest economy and inject its infrastructure with investments worth hundreds of billions of euros.
Incoming conservative chancellor Friedrich Merz along with the Social Democrats (SPD), his likely coalition partners after last month’s election, led the drive for the creation of a €500bn fund and relaxation of its constitutionally protected debt rules. The parties secured the last-minute backing of the Greens, which was needed to push the plans through the outgoing parliament.
