16 July 2024
Germany’s Filibuster
Filibuster and debt brake contribute to legislative failure on both sides of the Atlantic. This failure is one of the causes of anti-democratic tendencies. The developments of recent years in the USA should serve as a warning to everyone in the democratic spectrum. Those who, in light of these developments, prioritize a symbolic balanced budget over addressing the real challenges of the 21st century are paving the way for German Trumpists. The European election was just a warning shot. Continue reading >>
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19 December 2023
The Economic Distortions of the Federal Constitutional Court’s Debt Brake Decision
Germany is not facing a debt crisis, but rather a serious budget crisis triggered by the ‘debt brake’ ruling of the Federal Constitutional Court (FCC). This crisis is deeper than the 60 billion in unused "Corona debts" being shifted to a climate fund, as reported in the media. More fundamentally, the court has mandated that the federal budget strictly adhere to the "principle of annuality" (Jährlichkeit). This is the most significant impact of the court's ruling, and from an economic perspective, it is quite perplexing. Continue reading >>
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