Germany to borrow 180 bn euros

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Germany, traditionally hostile to government borrowing, will take on 180 billion euros in new debt in 2021 as it grapples with the economic fallout from the coronavirus crisis. After 17 hours of discussion, the parliamentary finance committee approved a total of 179.8 billion euros ($214.4 billion) of new debt for next year, according to a final document seen by AFP. The agreement shatters Germany’s constitutionally enshrined debt brake rule, with public spending now nearly 500 billion euros, as the government continues to support the economy through the pandemic.

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