For a country famed for its fiscal responsibility, Germany is behaving in strangely chaotic fashion.
Since the Constitutional Court blocked the accounting trick that would let the ruling coalition to use leftover COVID debt authorization for their climate alarmist policies, the three coalition parties have scrambled to unsuccessfully try to find an urgent solution to the 2024 budget.
They intensified their efforts to find a way to plug a 17-billion-euro ($18.3 billion) hole in next year’s budget, but, after failing to resolve the crisis overnight, uncertainty is rising about financial plans of Europe’s biggest economy.
Read: ‘No, Scholz, You Can’t Use Leftover Pandemic Money in Your Climate Alarmist Policies’: German Constitutional Court
Reuters reported:
“The failure of talks between coalition leaders before Wednesday means it is unlikely parliament will approve a 2024 budget by the end of the year, leaving in limbo spending plans from climate projects to benefits and for local authorities.
Social Democrat (SPD) Chancellor Olaf Scholz, Greens Vice Chancellor Robert Habeck and Finance Minister Christian Lindner of the fiscally conservative Free Democrats (FDP),…
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