5 minutes agoGermany allocates 100 billion euros for military
Periskopi(4 years ago)
(4 years ago)The agreement aims to create a special fund for military procurements, which will also allow Berlin to meet NATO's goal of spending 2 per cent of GDP in the field of defence. The German government and the conservative opposition have agreed on a 100 billion-euro disbursement agreement to modernise the army in the face of the threat [...]
The German government and the conservative opposition have agreed on the 100 billion-euro extension agreement to modernise the army in the face of the Russian threat. The accord, which envisions changing budgetary rules in the national constitution, was achieved after weeks of difficult negotiations between the ruling parties and the conservatives of former candidates Angela Merkel.
Three days before Russia invaded Ukraine in February, Chancellor Olaf Scholz pledged to spend a 100 billion-euro budget to re-arm the army and renew its aging weapons, Euronews reports.
But since then critics have accused Scholz of being shy of backing Kiev and failing to take concrete steps to supply weapons.
The extraordinary funding will be financed by an additional debt. For this, a <x0 violation” of debt rules in the country's constitution is needed, which borders the government on borrowing.
The government therefore needed conservative opposition support to secure the two-thirds majority in Parliament, needed to pass constitutional amendments.
