Fresh out of Barnard College with a degree in political science, Riley is learning the ropes as a writer and reporter for GZERO. When she isn’t writing about global politics, you can find her making GZERO’s crossword puzzles, conducting research on American politics, or persisting in her lifelong quest to learn French. Riley spends her time outside of work grilling, dancing, and wearing many hats (both literally and figuratively).
What is the debt brake? A measure that requires the federal and state governments to maintain balanced budgets, effectively prohibiting them from borrowing a penny more than they can repay.
This is a big deal historically in a country that has been committed to fiscal responsibility and pacifism since its out-of-control defense spending in the run-up to World War II. The package allows for “necessary defense spending” above 1% of GDP to be exempt from debt limits, a measure Germany feels is necessary as Europe takes the reins on its own security in the wake of the US withdrawing support.
It's also a major policy victory — along with a significant amount of debt — for the incoming parliament before it even assumes power. Far-right and far-left parties have criticized the move as “deeply undemocratic,” arguing that such a sweeping fiscal measure shouldn’t be passed before the new government, in which they will have greater influence, is in place. While parliament is aiming to form a new government by late April, mid-May is a more realistic timeline.
