Germany's prospective next prime minister and leader of the Christian Democratic Union (CDU) Friedrich Merz clinched a deal with the Social Democratic Party (SPD) and Greens on a large spending package that would require reforming the country's debt brake, media reported on Friday. Merz has said the €500 billion bill is necessary to boost Germany's defense, with some money also going toward a climate fund as a concession to the Greens, although exact details are currently unknown.
The CDU, in coalition with the Christian Social Union (CSU), hopes to pass the legislation during the current parliament, where it will have the necessary two-thirds majority with the SPD and the Greens. The vote is set for March 18, ahead of the new parliament's first session on March 25.
