Economy & Politics

The world’s debts are exploding – who will pay for it?

“Failure to act would be much more expensive to act.”

This sentence comes from Olaf Scholz, even if it sounds a little like Christian Lindner (“Not to rule is better than to rule wrongly”). The Federal Finance Minister said this when he presented the budget for the new year at the end of September. The grand coalition wants to incur additional debts of 96 billion euros in 2021, after 218 billion euros in debt this year.

They are astronomical sums that hardly cause any excitement. Because you have got used to the reason: extraordinary times, corona, emergency, just: inaction would be more expensive than action. And the actors are certainly right with these reasons: In times of severe crisis, a state must use its financial power to

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