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The worst-performing major economy also faces a budget crisis. Germany’s leader vows fixes, but how?
German Chancellor Olaf Scholz vowed Tuesday that his government will work “as fast as possible” to solve a budget crisis, but he offered few details on how he would achieve his goals of promoting clean energy and modernizing the struggling economy after a court decision struck down billions in planned spending. Scholz and his quarrelsome governing coalition must decide what to cut next year after Germany’s top court ruled that 60 billion euros ($65 billion) in funding for renewable energy projects and relief for consumers and businesses from high energy prices caused by Russia’s invasion of Ukraine violated ... (full story)