The head of Germany’s most powerful trade union has called on Berlin to drop its cap on new borrowing to safeguard the future of Europe’s largest economy.
IG Metall chair Christiane Benner said the country should follow the example of the US and China, which are heavily supporting their domestic industries, meaning the borrowing limit had to “stop — immediately, not after the elections”.
Benner’s warning came as a wave of recently announced industrial job cuts set a grim backdrop to the early stages of election campaigning, following the collapse of Chancellor Olaf Scholz’s three-way coalition amid the country’s economic malaise.
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