German MPs approve fiscal ‘bazooka’ package—paving way for over €1 trillion in defense spending

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The spending boost was pushed by chancellor-in-waiting Friedrich Merz amid deep fears in Europe over the future strength of the transatlantic alliance.

The unprecedented fiscal package -- dubbed "XXL-sized" and a cash "bazooka" by German media -- could pave the way for more than one trillion euros in spending over the next decade in Europe's top economy.

Merz's centre-right alliance and their likely future coalition partners, the centre-left Social Democrats (SPD) of outgoing Chancellor Olaf Scholz, have hammered out the package over recent weeks.

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Article Details

Author / Journalist: Femke Colborne, AFP

Category: EconomyBusiness

Markets: United States

Topics: Germany Infrastructure LondonWires Defense spending Defense

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-19 @ 11:53:28 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 766 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 192 words per sentence (average)

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Copyright Owner: © Fortune

News ID: 27172569

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