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Scholz’s Budget Respite Leaves German Destiny Shrouded in Doubt
German Chancellor Olaf Scholz may have clinched an accord on a budget for 2024, but his coalition has a lot more questions to answer about the country’s destiny. The hard-fought fiscal agreement in Berlin on Wednesday fixes only one immediate challenge overshadowing Europe’s biggest economy, whose healthy public-finance profile has come at the cost of an investment drought compared with rich-world peers. Tens of billions of euros of spending on the energy transition and infrastructure are now threatened after a court ruling that cast doubt on governments’ off-budget method of financing. Without such ... (full story)