Economics
Russian Invasion Pushes Europe Into New Era of Big Spending
- Germany leads the way with wave of military expenditure
- Brussels likely offer some fiscal leeway to capitals this week
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Russia’s invasion of Ukraine is pushing Europe toward a new era of unshackled fiscal spending as the region rushes to respond to an upturned geopolitical order.
A year when the European Union was set to reassess emergency budget largess stoked by the pandemic may be turning into another chapter in its tolerance of less restrained public finances and burgeoning debt. Money will now be needed for everything from enhanced military capabilities to alternative energy supplies.