Debt Deal Reached with Key Support from Greens

German chancellor hopeful Friedrich Merz has secured an agreement to increase public borrowing, with crucial backing from the Greens party. This support is vital for Merz's plan to pass in the parliament with a required two-thirds majority.

In a significant political development, German chancellor candidate Friedrich Merz has clinched an agreement to significantly increase public borrowing. This move aims to bolster the economy amid uncertainties.

The pivotal backing from the Greens party has been secured, which is considered essential for Merz's proposal to gain the necessary two-thirds majority in the outgoing German parliament.

An insider from the Greens party confirmed, 'We are satisfied,' indicating the party's approval and the importance of this alliance for Merz's fiscal strategy.

(With inputs from agencies.)