German 'black zero' budget faces €40bn green challenge

Press quote (Financial Times)
Christian Odendahl
19 September 2019

“The problem with the debt brake is it incentivises politicians to find clever ways around it,” said Christian Odendahl, chief economist at the Centre for European Reform....What is clear is that financing the new climate change policies while sticking to the mantra of balanced budgets could prove to be an almost impossible balancing act. For some it highlights the absurdity of sticking so slavishly to the black zero.“Everyone knows it will probably be killed off one day,” said Mr Odendahl, “but no one wants to be the one holding the smoking gun.”