The crisis Germany has been going through since November 15 is astonishing. Because it has failed to comply with the stringent rules it has itself imposed, the eurozone’s leading economy finds itself in a state of budget gridlock, forced to freeze spending and unable to pass its Finance Act for 2024, after acknowledging that the 2023 law was probably unconstitutional. Never since its formation just two years ago has Olaf Scholz’s government been faced with this kind of credibility crisis. The shock is so severe that the very survival of the coalition is at stake.
How…
