Euro pops on German headline about adjusting budget if necessary
Euro to the highs of the day
A German budget adjustment is possible if the outlook worsens, according to a ministry official.
This is something that they were saying two weeks ago. It comes with a report from Reuters of mulling the creation of a 'shadow budget' to increase public investments beyond the restrictions around national debt rules.
The report says officials are "flirting with the idea of setting up independent public entities that would...take on new debt to increase investment in infrastructure and climate protection."
Those entities would somehow fall outside of the governments deficit and spending rules.