Germany's leadership, under Chancellor Olaf Scholz, is facing domestic pressure to address a potential budget gap of up to €24 billion in 2024. The uncertainty around funding is threatening to hold back the economy, as warned by the OECD. Scholz has vowed to work swiftly to solve the budget crisis, but details on the proposed fixes remain scarce. The EU is also grappling with financial decisions, including the potential use of frozen Russian assets to aid Ukraine's reconstruction and the consideration of defense bonds to bolster the defense industry amidst the ongoing conflict in Ukraine. Germany's internal fiscal problems are posing a significant obstacle to a mid-term revision of the EU's budget. The European Council President, Charles Michel, has highlighted the need for defense bonds to support the defense industry in the face of Russia's war on Ukraine.
EU spent record amount on defense https://t.co/iJAqaYwkiW https://t.co/9CZUTQyJLh
EU members' defence spending should buy more time for debt cuts -von der Leyen https://t.co/VlxxCByv0F https://t.co/gbqlKMafmO
⚡Bloomberg: EU to announce plans to use frozen Russian assets for Ukraine's reconstruction. The EU is likely to soon announce a proposal to use the tax profits from frozen Russian assets to fund Ukraine's reconstruction, Bloomberg said on Nov. 30. https://t.co/VmiT0gQZri
EU deal on budget review stuck because of Germany's internal fiscal problems https://t.co/yxslPcjw2B https://t.co/659bZEqEJb
🇪🇺🛡️ EU defence strategy should include Ukraine – European Commission President https://t.co/SVrJfXIiyN
EU defense bonds could be a new asset class to bolster weapons makers amid Russia's war on Ukraine, European Council chief says https://t.co/pLzTvHJk1k
Germany's defense spending to exceed 2% of GDP in 2024 https://t.co/Fnow6S1otE https://t.co/YWYgi4xWZz
EU records record increase in military spending amid 'demanding times' https://t.co/txLEcIlNOn https://t.co/lNe9WSJqOK
The EU is moving ahead with a proposal to tax profits from more than €200 billion of frozen Russian central bank assets to aid Ukraine’s reconstruction despite concerns from several member nations https://t.co/3hYz4QcnBf
The EU is moving ahead with a proposal to tax profits from more than €200 billion of frozen Russian central bank assets to aid Ukraine’s reconstruction despite concerns from several member nations https://t.co/7ziLl75Lo1
The EU is moving ahead with a proposal to tax profits from more than €200 billion of frozen Russian central bank assets to aid Ukraine’s reconstruction despite concerns from several member nations https://t.co/fvSKa5N62B
German court finds govt climate policy unlawful, orders emergency action https://t.co/xqrT6hKjob https://t.co/MeEfN0b8ap
⚠️ EU DEAL ON BUDGET REVIEW STUCK BECAUSE OF GERMANY'S INTERNAL FISCAL PROBLEMS The biggest obstacle to a deal on a mid-term revision of the European Union's 7-year budget is the internal discussion in Germany on the country's own budget, thrown into turmoil by a constitutional… https://t.co/1Wk0KmuCM5
The EU should consider issuing defense bonds to boost financing of the defense industry as Russia’s war in Ukraine drags on, according to Charles Michel, the head of the European Council https://t.co/w07suJcNqt
The EU should consider issuing defense bonds to boost financing of the defense industry as Russia’s war in Ukraine drags on, according to Charles Michel, the head of the European Council https://t.co/EnvE2Ri5yD
The EU should consider issuing defense bonds to boost financing of the defense industry as Russia’s war in Ukraine drags on, according to Charles Michel, the head of the European Council https://t.co/EvvdAlAlwc
Following the German Constitutional Court’s decision to block his climate-finance plans, @OlafScholz finds himself in the unenviable position of having to reconcile two seemingly contradictory fiscal strategies, notes @DIW_Berlin’s @MFratzscher. https://t.co/hIBivEgWLt
Germany faces 17 billion euro gap in 2024 budget - Finance Minister https://t.co/orxuVoumDZ https://t.co/y74I80CHkR
🪖 EU to quadruple spending on training for Ukrainian soldiers https://t.co/2E3GLgenDF
🔴 GERMAN FINANCE MINISTER LINDNER: GERMANY FACES A €17 BILLION GAP IN 2024 BUDGET.
🇩🇪 Olaf Scholz has been branded Germany’s “plumber” who can only offer technical solutions to major political issues, as his rivals took aim at his handling of the budget crisis https://t.co/JNFpf4SoC0
Energy industry representatives warn that green investments in Germany could grind to a halt unless the country resolves its budget crisis quickly https://t.co/TKg6xOQWBd
Germany faces 'high double-digit billion' gap in 2024 budget -SPD politician https://t.co/ZJc0toeWoY
Germany faces a budget gap of up to 24 billion euros next year https://t.co/jd18gy1VbI https://t.co/wqwOXHExMZ
Ten European countries activate defense clause, boost military presence in Baltic Sea https://t.co/YM5HDticPj https://t.co/B9qF8wCBIm
Germany faces a potential hole in its 2024 budget of as much as €24 billion, according to a senior lawmaker from Chancellor Olaf Scholz’s ruling coalition https://t.co/HjROv2ittw
⚠️ GERMANY FACES 'HIGH DOUBLE-DIGIT BILLION' GAP IN 2024 BUDGET -SPD POLITICIAN Full Story → https://t.co/u8h2YyQDQq https://t.co/7Yqxh4Gj4r
ECB Vice President warns against using frozen assets for Ukraine, citing potential damage to euro's reputation https://t.co/i5OHNTyMdY https://t.co/EFjj8PGU8m
Germany’s budget chaos is threatening to hold back the economy if uncertainty around funding persists, according to the OECD https://t.co/ZN5iLvfkGw
Germany’s budget chaos is threatening to hold back the economy if uncertainty around funding persists, according to the OECD https://t.co/9L6gA22G5c
Germany’s budget chaos is threatening to hold back the economy if uncertainty around funding persists, according to the OECD https://t.co/oNIVXW9dVJ
Germany faces a potential hole in its 2024 budget of as much as €24 billion, according to a senior lawmaker from Chancellor Olaf Scholz’s ruling coalition https://t.co/iPzHy91ZCI
The EU has not yet agreed to start negotiations with #Ukraine on #EU membership and €50 billion to finance Kyiv, - European Council President Charles Michel. https://t.co/qss8fpc9dD
Germany faces a potential hole in its 2024 budget of as much as €24 billion, according to a senior lawmaker from Chancellor Olaf Scholz’s ruling coalition https://t.co/bB7N8tAZp5
Scholz vowed that his government will work “as fast as possible” to solve a budget crisis, but he offered few details on how he would achieve his goals. https://t.co/ZCcuDg7K0B
Germany’s leadership faces domestic pressure to rein in spending while other countries risk falling afoul of EU rules https://t.co/BXSeFCcZQT via @BW
Germany’s leadership faces domestic pressure to rein in spending while other countries risk falling afoul of EU rules https://t.co/hbzqKkSVV7
Germany’s leadership faces domestic pressure to rein in spending while other countries risk falling afoul of EU rules https://t.co/q77B5yieFE
The worst-performing major economy also faces a budget crisis. Germany's leader vows fixes, but how? https://t.co/mODq4okbaT