Economics
The Bill for Big Stimulus Comes Due in Europe
Germany’s leadership faces domestic pressure to rein in spending while other countries risk falling afoul of EU rules.
German Chancellor Olaf Scholz.
Photographer: Sina Schuldt/picture-alliance/dpa/AP PhotoThis article is for subscribers only.
In case anyone doubted that Europe’s era of extra-large stimulus was over, its biggest economy just abruptly slammed the brakes on government spending.
Stymied by a ruling from Germany’s top court, the country’s political leaders are in crisis mode as they recalibrate their budget for this year and rethink their strategy for managing public finances.