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Germany has fiscal muscle to counter next crisis: Scholz

Berlin: Germany has the fiscal strength to counter any future economic crisis “with full force”, Finance Minister Olaf Scholz said on Sunday, suggesting Berlin could make available up to 50 billion euros ($55 billion) of extra spending. With its economy on the brink of recession and borrowing costs at record lows, Germany is facing pressure at home and abroad to ditch its pledge to target balanced budgets and instead boost investment by taking on new debt. A government official earlier said that the finance ministry was toying with the idea of issuing debt in line with the more formal debt-brake rules to help finance a climate protection programme. (Reuters)

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