It has been described as “one of the most historic paradigm shifts in Germany’s post-war history”.
Friedrich Merz, the incoming German chancellor, announced on Tuesday evening a €500 billion (£414 billion) special fund for German infrastructure and an end to strict borrowing limits on defence spending.
Mr Merz said: “I want to make it very clear: in view of the threats to our freedom and peace on our continent, the following must now also apply to our defense: ‘whatever it takes’.”
The significance of these reforms cannot be overstated.
