A German finance minister has expressed support for a large special fund for defense, to be decided by the old Bundestag majorities. “We need clarity and planning security as soon as possible” said Bayaz to the Handelsblatt (Monday edition). An overhasty reform of the debt brake would bring no more than the repeated declaration of emergency situations.
Bayaz wants to go beyond the previously discussed financial volume. “200 billion could only be the absolute lower limit” said the green finance minister. If the special fund is to be expanded to include measures for internal security, such as disaster protection, cyber security, or the protection of critical infrastructure, as would be sensible, then one would be talking about “a scope of around 300 billion euros” Bayaz said.
CDU leader Friedrich Merz had previously brought a new special fund into play. Now, the CDU’s economic council, which otherwise criticizes high debts, is providing support. The statements by US President Trump on the future of security in Europe are an “exogenous shock” that justifies a “substantial special fund” according to a paper by the association, reported by the Handelsblatt.
However, a possible special fund for defense could only be a “targeted transitional solution” said the general secretary of the Economic Council, Wolfgang Steiger. “It should be accompanied by structural reforms for more economic growth and the much stronger inclusion of private investors in other expenditure areas, such as infrastructure.