Germany has agreed to amend the country's constitution to allow for a special €100bn defense loan fund proposed following the Russian invasion of Ukraine.. This was announced by the Minister of Finance of the country.
Germany's centre-right opposition and ruling coalition of the centre-left Social Democrats (SPD), Greens and Free Democrats (FDP) have said they have formed the necessary two-thirds majority to make the defense fund exempt from the constitutional debt cap..
Sources familiar with the matter said the talks were led by FDP leader Christian Linder, Defense Minister Christina Lambrecht (SPD), Greens leader Annalena Burbock and deputy opposition party organizer Matthias Middelberg.
The money is expected to be used over several years to boost Germany's regular defense budget of around 50 billion euros, enabling the country to reach the NATO-set target of spending 2 percent of GDP annually on defense..