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Reuters
Reuters
Politics

Germany to change constitution to enable $110 billion defense fund

Germany Christian Lindner Greens Russia SPD Ukraine
FILE PHOTO: A Leopard tank and a Puma tank are seen at the Munster military base, in Munster, Germany, February 7, 2022. REUTERS/Fabian Bimmer/File Photo

Germany has agreed to change its constitution to allow for a credit-based special defense fund of 100 billion euros ($107.35 billion) proposed after Russia's invasion of Ukraine, the German finance ministry announced on Sunday.

Germany's centre-right opposition and ruling coalition with centre-left Social Democrats (SPD), Greens and pro-business Free Democrats (FDP) said they reached the required two-thirds majority to exempt the defense fund from a constitutional debt brake.

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