Germany's intensifying budget crisis is hitting Europe's top economy where it hurts most: its reputation as a reliable partner for industry, some of which now fears that Berlin may not stand by its pledges to fund green and other projects. As well as tearing a 60 billion euro ($65 billion) hole in the government's 2024 spending plans, the constitutional court ruling raises wider questions about aid for big industrial projects that were supposed to be supported with public money. These include plans by ArcelorMittal, the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support.
Germany will suspend the debt brake in 2023 – EURACTIV com euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.
Germany s
intensifying budget crisis is hitting Europe s top economy where
it hurts most: its reputation as a reliable partner for
industry, some of which now fears that Berlin may not stand by
its.
Analysis-Budget crisis shakes industry s confidence in Germany saltwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltwire.com Daily Mail and Mail on Sunday newspapers.
By Christoph Steitz and Tom Kckenhoff FRANKFURT/DUESSELDORF (Reuters) - Germany's intensifying budget crisis is hitting Europe's top economy where it .