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Germany leads efforts to loosen EU debt and deficit caps as it gears up to deploy €1tn
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“It is an irony that Germany has been Europe’s disciplinarian for years and now wants to relax the rules,” said HEC professor Armin Steinbach. “Recalling the debt crisis, much of the tension in Europe had to do with Germany insisting on rule compliance. “It shows that the rules are unfit for the geopolitical age,” he added.
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