- Title: German upper house of parliament clears borrowing bonanza
- Date: 21st March 2025
- Summary: BLACK PEAK SUMMIT, VITOSHA MOUNTAIN, BULGARIA (MARCH 21, 2025) (REUTERS) VARIOUS OF DRONE VIEWS OF BLACK PEAK SUMMIT VARIOUS OF ULTRAMARATHON RUNNER VICTOR ASENOV AND PACERS, VOLUNTEERS WHO SET PACE OF RUN VARIOUS OF VIEWS OF SOFIA FROM BLACK PEAK SUMMIT (SOUNDBITE) (Bulgarian) ULTRAMARATHON RUNNER, VICTOR ASENOV, SAYING: "Everesting is starting from one point to another s
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- Keywords: debt brake reform german upper house parliament spending vote
- Location: BERLIN, GERMANY
- City: BERLIN, GERMANY
- Country: Germany
- Topics: Europe,Government/Politics
- Reuters ID: LVA009058521032025RP1
- Aspect Ratio: 16:9
- Story Text: Germany's Bundesrat upper house of parliament on Friday (March 21) approved plans for a spending splurge that aims to revive growth in Europe's largest economy and scale up the military, clearing the final hurdle for the historic fiscal policy shift.
The vote in the Bundesrat, which represents Germany's 16 states, was the last major hurdle the package had to clear before being signed into law, ending decades of fiscal conservatism in Europe's largest economy.
The legislation, which creates a 500 billion euro ($546 billion) fund to spend on infrastructure and eases strict borrowing rules to allow higher spending on defence - passed the Bundestag lower house on Tuesday.
The conservatives and SPD, who are in talks to form a coalition after last month's election, pushed it through the outgoing parliament for it could be blocked by an enlarged contingent of far-left and far-right lawmakers in the next Bundestag starting on March 25.
(Production: Martin Schlicht, Oliver Ellrodt, Daria Shamanova, Ulrike Heil) - Copyright Holder: REUTERS
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