Germany provides an extra 60 billion euros for green projects, digital: Reuters plus CO2 hits a high (1)

BERLIN, Jan 27 (Reuters) – Germany’s lower house on Thursday suspended constitutional limits on new borrowing for another year and approved a supplementary budget to fund investments needed to transition the economy toward carbon neutrality.

The debt-financed supplementary budget of 60 billion euros ($66.92 billion) was passed in a 382-283 vote in the Bundestag where Chancellor Olaf Scholz’s Social Democrats (SPD), the Greens and the pro-business Free Democrats (FDP) have a majority.

The conservative Christian Democrats (CDU) and their Bavaria-based Christian Social Union (CSU) sister party want to petition the Constitutional Court to strike down the budget.

The 60 billion euros to be channeled towards the government’s investments in green projects and making the economy fit for the digital age come from unused debt from last year’s budget.


EU carbon jumps to record close?

euros / metric ton: ICE

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