It was necessary to pinch it to believe it, Tuesday March 4, at the beginning of the evening, when the future chancellor, Friedrich Merz, hitherto embodied the economic dogmas of the 1990s and the budgetary discipline, pronounced these words: “The rule for the defense of Germany must be: “Whatever it Takes” (whatever it costs). “” The Christian Democrat therefore made his own the famous words of the former president of the European Central Bank Mario Draghi, who had ended the Euro crisis in 2012, announcing an accommodating monetary policy, long conspired by the German conservatives.
This late Italian tribute is a historical break. Germany has recognized that its severe budgetary rules no longer allowed it to face the double danger it is faced with: a severe threat to its security, while Americans no longer want to guarantee European security, but also a serious risk of economic stall. With its probable future partners of Social Democrats Coalition (SPD), Friedrich Merz has therefore announced a reform of the debt brake, excluding this constitutional mechanism for limiting the deficit to 0.35 % of the gross domestic product (GDP), defense expenses exceeding 1 % of GDP.
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