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Member Run Boards >> Environment >> Germany - Green dreams slashed
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Message started by lee on Nov 22nd, 2023 at 10:29pm

Title: Germany - Green dreams slashed
Post by lee on Nov 22nd, 2023 at 10:29pm

Quote:
Germany is currently embroiled in a budget crisis following an emergency spending freeze. Euronews Business looks at why Europe's biggest economy is in trouble.

Germany's top court recently ruled against the reallocation of unused Covid-19 pandemic debt, totalling about €60 billion for climate and transformation projects, which has caused chaos for the country's budget with the government ordering a spending freeze on new expenditures, especially green initiatives, while trying to decide whether to abolish the debt brake or curb spending from elsewhere.

Previously, this amount had been kept aside to be used for renewable energy subsidies, energy-efficient housing, chips production and support measures for high-energy companies.

The ruling has thrown German Chancellor Olaf Scholz’s coalition government’s 2024 budget announcement plans on Friday into disarray. The impact could also extend to financial plans until 2027, as the government now has to make do with €60 billion less.


https://www.euronews.com/business/2023/11/21/why-is-germany-having-a-budget-crisis-and-freezing-spending

Title: Re: Germany - Green dreams slashed
Post by Ja-Sindarin on Nov 22nd, 2023 at 10:37pm
Funny. They just promised Ukraine a LOT of money.
While I'm sure Ukraine is yet to pay them any money for the Military orders and weaponry they've already received.

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