A potential relaxation of German spending rules is a 'false alert,' analysts have told CNBC after reports the country's finance chief is willing to load up on new debt.
A two-thirds majority in the German Parliament is needed to change the "debt brake" and there's currently not enough appetite, Guntram Wolff, director of the Brussels-based think tank Bruegel, told CNBC Thursday. The chief budget lawmaker for the ruling CDU party has said the party would not support any easing of the debt limits, according to Reuters.
Germany, Europe's largest economy, ran the world's largest current account surplus in 2019. This marked the fourth year in a row that Berlin achieved the highest surplus in the world, according toTo see a structural change to the debt brake, we would first need to get a new government.'s government has been under pressure by central bankers and other policymakers to increase spending at a time when the German economy has been on the brink of a recession.
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