Timeline: Germany could soon bury its 'black zero' budget rule

Germany is facing growing calls at home and from abroad to ditch its self-impose...

BERLIN - Germany is facing growing calls at home and from abroad to ditch its self-imposed balanced budget rule and take on new debt to inject more fiscal stimulus into Europe’s largest economy.

A senior government official told Reuters this month that the finance ministry is toying with the idea of issuing new debt in the form of “green bonds” which could help finance a costly climate protection package. Below is an overview of events that could soon decide about the fate of Germany’s balanced budget rule, also known as the Schwarze Null or black zero.Leaders of Chancellor Angela Merkel’s conservatives and the co-ruling, center-left Social Democrats meet behind closed doors to prepare a comprehensive package of climate protection measures that are likely to burden the federal budget massively.

Germany’s export-reliant economy shrank by 0.1% on the quarter from April to June, and another quarter of contraction would be viewed as a technical recession.

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