Germany to borrow €800bn for rearmament in historic shift. Ditches frigate programme. Schwarze Null.

Germany to borrow €800bn for rearmament in historic shift. Germany’s defence budget is set to reach €109bn next year.

Berlin also plans to provide €11.6bn in military aid to Ukraine next year.

After Merz’s Christian Democrats (CDU) won last year’s election, Berlin amended the country’s constitutional debt brake to exempt defence spending.

The borrowing plans have proved contentious, including within the CDU, which long championed the so-called Schwarze Null — the balanced-budget doctrine associated with the late finance minister Wolfgang Schäuble.

Financial Times 6 July 2026

https://www.ft.com/content/2ceb7472-a7bc-447e-a037-7925f037b9b5?syn-25a6b1a6=1


Germany scraps plans to build its biggest warship since second world war.

Shares in defence group Rheinmetall tumble as Berlin ditches F126 frigate programme after cost overruns and delays

https://www.ft.com/content/2ceb7472-a7bc-447e-a037-7925f037b9b5?syn-25a6b1a6=1


Berlin set to buy 40% stake in Franco-German tank maker KNDS
https://englundmacro.blogspot.com/2026/05/22-maj-hhoppet-sjunker-borserna-stiger.html


Tyskland dumpar sitt överskottsmål

Germany adopted its rule of maximum debt, known as the "debt brake" (Schuldenbremse), in 2009. 

EU har en motsvarande regel, Stabilitetspakten, senare utan större ändringar omdöpt till Stabilitets- och tillväxtpakten (Stabpact) 

https://englundmacro.blogspot.com/2024/11/tyskland-dumpar-sitt-overskottsmal.html

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