On November 15, the German Federal Constitutional Court issued a dramatic ruling that caused a severe freeze in public spending, a situation Germany never has explored before in modern history. The verdict blocks 60 billion euros ($65 billion) in public spending, which is a significant amount. The background is slightly technical and is combined with hopeless German politics.
The German Finance Ministry has decided to freeze almost all budget allocations following a court decision on the illegality of redistributing unclaimed loan funds worth 60 billion euros ($65 billion), German magazine Der Spiegel reported on Monday, citing the ministry s document.
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