In Germany, where the virtues of budgetary rigor have long been celebrated and taught to unruly countries, the debt is exploding but the leaders are looking elsewhere.
To complete its 2021 budget, the government recently issued 240 billion euros in new loans, a third more than the amount initially adopted in December.
This will represent 370 billion euros since 2020 to which should be added 81.5 billion next year, according to provisional estimates.
The publication of these record amounts, greater than all loans for the last twenty years, has gone virtually unnoticed.
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It happens, of course, that Berlin and the Länder quarrel over the sharing of the financial burden.
But to cope with the deteriorating economic situation, priority is given to spending.
For several weeks, bad indicators have followed one another, a warning sign that it will probably be necessary to continue to help companies by financing in particular
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