
24/07/2025
For decades Germany was allergic to debt. But new chancellor Friedrich Merz has - unexpectedly - loosened the country’s constitutional debt brake, injecting hundreds of billions of euros into the armed forces and infrastructure. The move, he hopes, will revive Europe’s largest economy and build up its military as Donald Trump’s US administration dismantles the transatlantic relations that underpinned Germany’s postwar recovery. The FT travels to Frankfurt and Berlin to examine why investment in crumbling schools, roads and rail infrastructure - and defence - is needed and to ask if the spending gamble will kickstart Germany's economic engine.

Friedrich Merz
as Self

Olaf Storbeck
as Self

Armin Steinbach
as Self

Martin Wolf
as Self

Philippa Sigl-Glöckner
as Self

Franziska Brantner
as Self

Anja Bröker
as Self

Christian Böttger
as Self

Uwe Gehrmann
as Self

Katrin Oestreich
as Self

Felix Pakleppa
as Self

Anne-Sylvaine Chassany
as Self

Donald Trump
as Self
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