Media: young people in Germany unhappy with abolition of debt ceiling
According to the Welt newspaper, many young Germans do not know what will save them from debt in the future after Germany decided to abolish the state debt ceiling and increase defence spending, RIA Novosti reports
As the publication pointed out, Germany’s young people will have to pay off the gigantic debts that lawmakers have allowed to accumulate.
According to the media, if young people are lucky, ‘climate change, which has now become partly irreversible, guarantees that Germany will be flooded or devastated.’ Otherwise, German youth will have to pay off their debts forever.
On March 18th, the Bundestag, at the initiative of the Christian Democratic and Christian Social Union (CDU/CSU) and Social Democrats (SPD) bloc, adopted by a majority vote amendments to the country’s constitution to increase investment in defence and infrastructure development. Parliament decided to limit the mechanism (the so-called ‘debt brake’) that prevents the government from borrowing heavily. Before winning the Bundestag elections, CDU leader Friedrich Merz had opposed such measures.
