German MPs Vote for €500bn Boost to Counter Putin's 'War of Aggression'

Germany's parliament has voted to unleash historic levels of spending to counter Vladimir Putin's "war of aggression", boost the military of Europe's biggest economy and inject its infrastructure with investments worth hundreds of billions of euros.

- Kate Connolly

Incoming conservative chancellor Friedrich Merz, along with the Social Democrats (SPD), his likely coalition partners after last month's election, led the drive for the creation of a €500bn fund and relaxation of its constitutionally protected debt rules. The parties secured the last-minute backing of the Greens, which was needed to push the plans through the outgoing parliament.

The package received the backing of 513 MPs yesterday, with 207 voting against, and no abstentions. The minimum required was 489 votes. It has been hailed by some as a necessary measure to give Germany the fiscal heft it needs to ensure national and European security, but by others as a "highly risky bet" that will be a burden for generations to come.