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For decades, Germany has been the poster child of fiscal conservatism, adhering to its self-imposed debt brake and prioritizing balanced budgets over long-term investment. While this approach kept government debt low, it came at a significant cost: namely, crumbling infrastructure, lagging digitalization, and an underfunded military.
But now, in a dramatic shift, Germany is embarking on a historic fiscal reset. The recent announcement of a massive stimulus package marks a clear departure from austerity, signaling a pivot in policy with the potential to reshape Germany’s economic future.
We will explore what the implications of the massive fiscal spending surge are