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Budget crisis shakes industry's confidence in Germany
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 ... (full story)