Germany's likely chancellor-to-be announces a political deal to raise hundreds of billions of euros in extra spending.

Germany will unlock hundreds of billions of euros for defense and infrastructure investments in a dramatic shift that upends its ironclad controls on government borrowing. Chancellor-in-waiting Friedrich Merz said on Tuesday night that Germany would amend the constitution to exempt defense and security outlays from limits on fiscal spending to do “whatever it takes” to defend the country.

Germany's likely next chancellor Friedrich Merz said Tuesday that his centre-right CDU/CSU and the centre-left Social Democrats (SPD) would propose an unprecedented package of billions of euros in ext

By Nikhil Sharma (Reuters) -German indexes led robust gains in Europe on Wednesday after sharp declines in the previous session as the country's leaders agreed to overhaul borrowing rules to boost defence spending and revive growth.

The conservatives and the Social Democrats (SPD) agreed to seek a loosening of Germany's debt brake to allow higher defence spending, and to propose the creation of a 500 billion euro infrastructure fund,

The conservatives and the Social Democrats agreed to seek a loosening of Germany's debt brake to allow higher defence spending, as well as proposing to create a 500 billion euro ($529 billion) infrastructure fund,