German upper house of parliament OKs debt reform, half-trillion fund

By CNBC   |   1 day ago
German upper house of parliament OKs debt reform, half-trillion fund

Germany's upper house of parliament approved a reform of borrowing rules and a 500-billion-euro fund for infrastructure. The amendment loosens the debt brake and allows increased spending on defense and security. The bill passed with a two-thirds majority after approval by the lower house.

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