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GERMANY: Timings For Today's Fiscal Reform Debate & Voting, Passage Expected

GERMANY
CEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets

There are suggestions that the political parties will conduct test votes to gauge support for the fiscal reform ahead of today’s Bundestag gathering. The straw polls/test votes are seemingly scheduled for 09:00 CET/08:00 GMT and could generate headlines.

  • The Bundestag session will get underway at 10:00 CET/09:00 GMT, with the debate surrounding the amendments to the relevant fiscal laws scheduled to start at 10:35 CET/09:35 GMT.
  • A roll call-vote will then follow the debate (some have suggested this could start around 13:30 CET/12:30 GMT), with the session scheduled to conclude at 15:05 CET/14:05 GMT.
  • Chancellor-in-waiting Merz has stated that only a small handful of no votes will come from the CDU-CSU, while dissenters and absentees from the Greens & SPD are expected to be in the low single digits.
  • A reminder that the 3 parties have a buffer of 31 votes when it comes to passing the package.
  • While odds of a rejection of the amendments are not 0, base cases and market pricing continue to lean heavily towards the reform passing through the Bundestag.
  • It then needs to pass through the Bundesrat before the new government sits on 25 March.
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There are suggestions that the political parties will conduct test votes to gauge support for the fiscal reform ahead of today’s Bundestag gathering. The straw polls/test votes are seemingly scheduled for 09:00 CET/08:00 GMT and could generate headlines.

  • The Bundestag session will get underway at 10:00 CET/09:00 GMT, with the debate surrounding the amendments to the relevant fiscal laws scheduled to start at 10:35 CET/09:35 GMT.
  • A roll call-vote will then follow the debate (some have suggested this could start around 13:30 CET/12:30 GMT), with the session scheduled to conclude at 15:05 CET/14:05 GMT.
  • Chancellor-in-waiting Merz has stated that only a small handful of no votes will come from the CDU-CSU, while dissenters and absentees from the Greens & SPD are expected to be in the low single digits.
  • A reminder that the 3 parties have a buffer of 31 votes when it comes to passing the package.
  • While odds of a rejection of the amendments are not 0, base cases and market pricing continue to lean heavily towards the reform passing through the Bundestag.
  • It then needs to pass through the Bundesrat before the new government sits on 25 March.