What is the debt brake? A measure that requires the federal and state governments to maintain balanced budgets, effectively prohibiting them from borrowing a penny more than they can repay.
This is a big deal historically in a country that has been committed to fiscal responsibility and pacifism since its out-of-control defense spending in the run-up to World War II. The package does not give an exact figure for funding but says “necessary defense spending” above 1% of GDP should be exempt from debt limits.
Intense negotiations are underway. The center-left Social Democratic Party and the center-right Christian Democratic Union/Christian Social Union — the likely pillars of the next government — are aligned in favor of scrapping the debt brake. This is due largely to the perceived need to boost military spending as the US sends worrying signs about its commitment to European defense.
But there is strong opposition from the AfD and the socialist far-left party, Die Linke, which argue that it is “deeply undemocratic” to pass such a sweeping fiscal measure before the new government — in which they will wield greater influence — is in place.
That means the narrow pathway to dumping the debt brake runs through the Green Party, which appears cautiously open to a deal but is pushing for stricter regulations on how the money will be used.
America’s new National Security Strategy confirms what Europeans have feared for months: Washington now sees a strong, unified European Union as a problem to be solved, not an ally to be supported.
In this episode of Tools and Weapons, Microsoft Vice Chair and President Brad Smith sits down with Ed Policy, President and CEO of the Green Bay Packers, to discuss how purpose-driven leadership and innovation are shaping the future of one of the world’s most iconic sports franchises. Ed shares how technology and community-focused initiatives, from Titletown Tech to health and safety innovations on the field, are transforming not just the game of football, but the economy and culture of Green Bay itself. He explains how combining strategic vision with investment in local startups is keeping talent in the Midwest and creating opportunities that extend far beyond Lambeau Field.
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More than a week after Hondurans cast their ballots in a presidential election, the country is still stuck in a potentially-dangerous post-election fog.