In December 2012, leaders from 25 EU countries all signed up to a pact championed by German Chancellor Angela Merkel.
The so-called fiscal compact is supposed to discipline countries into spending within their means and reducing their budget deficits and overall debt.
In Germany, the "debt brake" will fully come into force in 2019, when the federal state and the regions (laender) are legally bound to stop making new debt.
Germany is in a much better position when it comes t...
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