Welt: young Germans are unhappy with the cancellation of the German debt ceiling
Many young Germans do not know what will save them in the future from debt after Germany decided to cancel the state debt ceiling and increase defence spending, writes Welt.
‘Conflicts, climate, gigantic tax payments – I really have no perspective anymore, <…>’, – complained in conversation with the publication Leon Armtropf, summarising the predicament in which he and his peers find themselves.
As the piece points out, German youth will have to pay off the gigantic debts that lawmakers have allowed them to rack up.
‘If the youth are lucky, climate change, which has now become partly irreversible, guarantees that Germany will be flooded or devastated. <…> Otherwise, German youth will have to pay off their debts forever,’ the publication summarises.
On Tuesday, the Bundestag, at the initiative of the Christian Democratic and Christian Social Union (CDU/CSU) and Social Democrats (SPD) bloc, passed by majority vote amendments to the country’s constitution to increase investment in defence and infrastructure development. Parliament decided to limit the mechanism (the so-called ‘debt brake’) that prevents the government from borrowing heavily. Before winning the Bundestag election, CDU leader Friedrich Merz had opposed such measures.
A fresh German poll shows that the number of supporters of the appointment of Friedrich Merz, leader of the election-winning Christian Democratic and Christian Social Union (CDU/CSU), as chancellor has fallen from 44 per cent to 37 per cent in the past two weeks.
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