The German government faces a 60 billion euro ($65 billion) hole in its finances after the country's constitutional court ruled on Wednesday that a plan to spend unused emergency funds from the pandemic on climate initiatives was unconstitutional. The decision will complicate budget negotiations taking place this week within Chancellor Olaf Scholz's three-way ruling coalition, whose popularity has slumped as Europe's biggest economy teeters close to another recession. Finance Minister Christian Lindner will meanwhile face increased scrutiny on how he plans to keep spending in check, just days before he is due meet his French counterpart for talks on enforcing fiscal discipline across European Union countries.
The German government faces a 60 billion euro ($65 billion) hole in its finances after the country's constitutional court ruled on Wednesday that a plan to spend unused emergency funds from the pandemic on climate initiatives was unconstitutional. The decision will complicate budget negotiations taking place this week within Chancellor Olaf Scholz 's three-way ruling coalition, whose popularity has slumped as Europe's biggest economy teeters close to another recession.
Finance Minister Christian Lindner will meanwhile face increased scrutiny on how he plans to keep spending in check, just days before he is due meet his French counterpart for talks on enforcing fiscal discipline across European Union countries
Germany Government Finances Constitutional Court Ruling Budget Negotiations Olaf Scholz Christian Lindner Pandemic Climate Initiatives Recession Spending Fiscal Discipline European Union
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