From Bloomberg Markets and Finance.

German lawmakers passed a landmark spending package that could unlock hundreds of billions of euros in debt financing for defense and infrastructure and heralding the end of decades of budget austerity. The legislation pushed by Chancellor-in-waiting Friedrich Merz and also backed by the Social Democrats and the Greens, will head to a vote on Friday at the Bundesrat, where Germany’s 16 federal states are represented. Bloomberg’s Oliver Crook reports.
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