Germany's Financial Foresight Amid Political Shifts

German Finance Minister Joerg Kukies addresses the implications of a coalition collapse on the economy, highlighting a no-freeze policy for the 2023 budget while navigating potential financial challenges. The focus remains on the re-privatisation of Uniper and addressing structural economic issues.

In a bid to reassure and stabilize Germany's financial future, Finance Minister Joerg Kukies announced there would be no budget freeze for 2023, despite the recent disintegration of the country's three-way coalition government.

During the Sueddeutsche newspaper economic summit in Berlin, Kukies tackled pressing questions about the supplementary budget for 2024, opposed by the Christian Democrats (CDU) and Free Democrats (FDP). He acknowledged the uncertain future of the supplementary budget, emphasizing adaptability in the current financial landscape.

Kukies underlined the government's commitment to its obligations, highlighting a continuation of privatization policies post-stabilization. He addressed issues like the re-privatisation of energy company Uniper and criticized potential hostile takeovers affecting bank stability.

(With inputs from agencies.)