A 15-member scientific and political commission is currently beginning its work in Berlin with the aim of making proposals on whether and, if so, how the German debt brake can be reformed. Surprisingly, not one of the 15 people appointed by the Federal Minister of Finance has ever attempted to analyse and discuss the government’s debt balance as part of a larger context at the macroeconomic level in their scientific or political work. …
Debt brake and sectoral financial balances – an unknown but crucial connection
22. September 2025 I