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IPFS News Link • Government Debt & Financing

Germany Borrows Another 40 Billion Euros To Cushion Fallout From War In Ukraine

• by Tyler Durden

They plan to use the money to blunt the economic and financial impact of the war (ie on more handouts for the country's citizens), which has led to surging energy prices that must be shouldered by German companies and consumers, according to Bloomberg, who cited several sources close to the German government.

Once finalized, the proposal from Finance Minister Christian Lindner will then be sent to the Bundestag, Germany's parliament, for approval.

Since the start of the coronavirus pandemic, the German government has ended its longstanding opposition to debt and unleashed an unprecedented borrowing binge, with net new debt of €130 billion euros in 2020 and a record €215 billion euros in 2021.

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