Germany’s Fiscal Illusion: How Berlin Is Burying The Debt Brake By Thomas Kolbe Bye-Bye Maastricht: Germany’s March into the Debt State Political failure in a welfare state translates almost immediately into rising social expenditures. Their disproportionate increase shows one thing clearly: Germany is heading for troubled times. “Budgetary policy is the sovereign right of parliament”—so goes the well-worn phrase when lawmakers gather for their annual budget debate. If that phrase ever held truth, then today the sovereign stands exposed: the king has no clothes. The draft budget for 2025, finalized today by Germany’s federal cabinet and scheduled for adoption tomorrow,… — Continue at ZeroHedge News : Read More
