German Of The Day: Milliardenloch

That means a billion-euro hole. You know, as in the ones that will be appearing in the coming German federal budgets?

Loch

The money has been rolling in to Berlin for years but it looks like those days are about to end. Germany’s current finance minister, Olaf Scholz (SPD), warns that the government will be missing some 25 billion euros by 2023. No new expenditures possible, folks. Not unless there are cuts somewhere else. Right. Good luck with that, pal. You’re with the SPD, for crying out loud (that stands for Spend other People’s Dough).

And it sure would be a shocker if Germany now used this as an excuse not to live up to its defense spending commitments, wouldn’t it? See how this works, folks?

Nach Jahren sprudelnder Steuereinnahmen droht dem Bund wegen der abflauenden Konjunktur ein 25-Milliarden-Loch im Haushalt bis 2023.

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