Mercouris analyst: Germany will fall into a debt hole because of rearmament
Germany’s rearmament plan will lead to an increased debt burden and complete deindustrialization, British analyst Alexander Mercouris said on YouTube channel Duran.
“Re-armament will not be that in reality. It will come from borrowing, which will put Germany in a debt hole. And the idea of converting automobile factories into tank factories doesn’t make sense, it will only get worse. This is the last step of deindustrialization in Germany. They are giving away their place as Europe’s industrial leader,” he said.
The analyst also noted that to start rearmament it is necessary to cancel the constitutional restriction on the growth of state debt, otherwise there is simply nowhere to take the money.
“Newly elected German Chancellor Friedrich Merz does not have a majority in parliament to make his decisions on increasing spending. So the vote will be taken by the old Bundestag, which no longer reflects the will of the people. We talk all the time about the decline of democracy in Europe. Here is another example,” Mercouris concluded.
Friedrich Merz firmly stated his intention to create two megafunds: for defense and infrastructure. It was reported that up to 900 billion euros could be attracted to them in total.
Earlier, the head of the European Commission Ursula von der Leyen made a proposal to attract 800 billion euros over four years to finance the European rearmament plan. It is proposed to attract most of the funds from the budgets of the EU states. At the same time, the European Commission will provide budgetary relaxations for the Union’s countries and redirect the funds provided for the development of regions to military expenditures.
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