German Finance Minister expects EU approval for debt rule exception
Berlin – The German Finance Minister Lars Klingbeil is confident that the EU Commission will grant Germany an exemption from the debt rules for defense spending. “There are absolutely no concerns that this will not be activated,” said the German politician in Berlin. Recently, the EU Commission granted exemptions to several countries – but not to Germany, as the federal government has not yet submitted a medium-term budget plan.
This can only happen once the budget is approved, Klingbeil said. He plans to present his budget proposals for 2025 and the key figures for the 2026 budget to the cabinet on June 24. After that, the two parliamentary chambers, the Bundestag and the Bundesrat, will take their turn.
The exemption from the European debt rules is intended to enable more investments in defense: It will then be possible to take out new loans for rearmament without risking a procedure for violating EU rules. This is important for Germany, as the national debt brake has just been relaxed for defense spending. (June 12)
