What's in Germany's giant spending 'bazooka'?

Germany’s massive spending plan for military and infrastructure upgrades is awaiting final approval from the upper house, with Chancellor-in-waiting Friedrich Merz expressing confidence in its passage. The plan, which includes increased defence spending and a 500-billion-euro infrastructure fund, aims to strengthen Europe’s defences against Russia and address concerns about NATO’s future under US President Donald Trump’s leadership. German media have described the initiative as an “XXL-sized” funding “bazooka” that exempts defence spending above one per cent of GDP from debt rules, signaling a significant shift in the country’s approach to military and infrastructure modernization.

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