Google translation of the Germany story:....>

GERMANY: Google translation of the Germany story:

Olaf Scholz plans to suspend the debt brake - Federal Finance Minister Olaf

Scholz wants to temporarily suspend the debt brake in the Basic Law in order to

relieve the local authorities. According to information from the weekly

newspaper DIE ZEIT, Scholz will present a corresponding plan in March.

- The background is the debt relief planned by the Federal Ministry of Finance

for financially weak towns and cities. Specifically, Scholz plans that the

federal government will assume part of the old debts of these municipalities. So

that this transfer of the debt burden can take place in conformity with the

constitution, there should be a kind of one-off exemption. This is necessary

because the debt brake places tight limits on the federal debt. Because the

Basic Law has to be changed for the planned regulation, a two-thirds majority in

the Bundestag and Bundesrat is necessary.

- Debt relief is intended to enable municipalities to invest more in schools,

streets and day care centers. Because of the high burden of debt servicing in

some cities and municipalities, there is often a lack of money.