Germany Ready for Deficit Spending if Recession Hits: Spiegel - Bloomberg

(Updated - August 16, 2019 10:28 AM EDT)

Germany Chancellor Angela Merkel and Finance Minister Olaf Scholz are ready to run a budget deficit if its economy goes into recession, according to Bloomberg, citing a separate report from Der Spiegel.

Shortfall in tax revenue from the economic slump could be offset by new debt, the report said, citing sources in the chancellery and the finance ministry.

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