According to the “Frankfurter Allgemeine Zeitung” newspaper, German politicians should have been before the 750 billion euros were approved. Reconstruction Fund To thoroughly investigate the problem of whether the project should actually be implemented during the pandemic, which could become “a major step towards becoming an EU country.”
An unexpected decision from the German Constitutional Court
The Constitutional Court in Karlsruhe decided that until the court makes a decision, the President of Germany may not sign the fund law adopted by the Bundestag and the Bundesrat. The reason is a constitutional complaint. The newspaper estimates that this complicates the situation in “bankrupt” European Union countries such as Italy, which are anxiously waiting for money.
According to Vaz, German Finance Minister Olaf Schultz was one of the few who understood the consequences of this decision. Schulze referred to the so-called “Hamilton moment”. It relates to the agreement concluded between Alexander Hamilton and Thomas Jefferson in 1790, as a result of which the United States took on debt as a confederation for the first time.
European Union: Shared Debt – Shared Country?
This is the moment – according to the newspaper – which is considered the key to the emergence of the American state. The same for the European Union “with Joint debt A joint state will be established. ”
The Frankfurter Allgemeinen Zeitung notes that it may be legally difficult to answer the question of whether the EU should “in an amount much larger than it is now” should raise private resources to repay the debt. We read: “From a political point of view, (this answer) can make a difference between a federation of states and a federation.”