Germany’s upper house of parliament on Friday passed a reform of the country’s borrowing rules and a 500-billion-euro ($542 billion) fund to revamp its infrastructure and revive Europe’s largest economy.
The constitutional amendment to loosen the so-called debt brake also allows for de-facto unlimited spending on defence and security.
The upper house of parliament, which represents the 16 German states, passed the bill with the necessary two-thirds majority after Tuesday’s vote in...
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