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German Government Slashes Spending, Except on the Military (www.nytimes.com)

submitted 1 year ago by iraq_lobster@lemm.ee to c/europe@feddit.de

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[–] letmesleep@feddit.de 1 points 1 year ago* (last edited 1 year ago)

It's just silly. In business class you learn that you need to account for inflation when assessing the value of money. Even without economic growth 8% inflation mean that our country's debt shrinks by 8% if we don't pay back a single euro. That's about 200 billion euros of debt vaporized last year alone.

Not accounting for inflation with the debt brake (Schuldrenbremse) was an incredibly dumb decision.