Federal Finance Ministry Defends Strict Adherence to the Debt Brake Despite Massive Criticism From Industry Associations
Despite considerable pressure from the business community and leading economists to finance state infrastructure programs through new borrowing, the Federal Finance Ministry has reaffirmed its strict fiscal austerity course. The uncompromising defense of the constitutional debt brake forces the coalition into painful cuts and exacerbates the domestic political dispute over the economic future viability of Germany as a business location.