Editorial Board
Germany’s Debt Brake Surprise Is a Game Changer
Suddenly, Europe’s immense challenges seem surmountable.
Forging Europe in crisis.
Photographer: Ralf Hirschenberger/AFP/Getty Images
Suddenly, Germany’s probable new chancellor, Friedrich Merz, has done what seemed impossible. Together with his fellow centrist leaders, he has unveiled a plan to override a long-running constraint on government borrowing, recognizing the urgent need to ramp up investment in defense and economic revival.
This is a big step forward — not only for Germany, but also for Europe and the world.