© Reuters. FILE PHOTO: A Leopard tank and a Puma tank at the Münster military base in Münster, Germany on February 7, 2022. Photo: Fabian Beemer/Reuters
BERLIN (Reuters) – Germany has agreed to amend its constitution to allow a 100 billion euro ($107.35 billion) defense trust fund to be proposed following the Russian invasion of Ukraine, the German Treasury announced on Sunday.
Germany’s centre-right opposition and the ruling coalition with the center-left Social Democrats (SPD), Khader and the pro-business Liberal Democrats (FDP) said they had secured the two-thirds majority needed to relieve the Defense Fund of the constitutional debt brake.
According to circles familiar with the matter, the negotiations were led by FDP leader Christian Lindner, SPD Defense Minister Christine Lambrecht, Green Party leader Annalena Barbock and opposition deputy Matthias Middelberg.
The funds will be used over several years to increase Germany’s regular defense budget by approximately €50 billion and enable the country to meet the NATO target of spending 2% of its economic output on defense annually.
(1 dollar = 0.9315 euros)
Source site 21