BusinessPostCorner.com
No Result
View All Result
Monday, June 2, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Boris Pistorius stays on as Germany’s defence minister in Merz’s coalition

May 5, 2025
in Finance
Reading Time: 2 mins read
A A
0
Boris Pistorius stays on as Germany’s defence minister in Merz’s coalition
ShareShareShareShareShare

Stay informed with free updates

Simply sign up to the German politics myFT Digest — delivered directly to your inbox.

Boris Pistorius, a staunch supporter of Ukraine, is to remain Germany’s defence minister in Friedrich Merz’s new coalition as Europe’s largest democracy prepares to inject hundreds of billions of euros into its military. 

The 65-year-old Social Democrat — and Germany’s most popular politician — was nominated by his party on Monday as one of seven SPD ministers to join the government of conservative leader Merz, who will take office as chancellor tomorrow.

Other SPD cabinet picks include co-leader Lars Klingbeil, who is to become vice-chancellor and finance minister, and Bärbel Bas, a senior MP from the industrial Ruhr valley who will become labour minister. 

The ministerial nominations come as Merz’s CDU, its Bavarian sister party the CSU, and the SPD are set to formally sign their coalition agreement on Monday — paving the way for Merz to be elected chancellor by the Bundestag on Tuesday. Merz is to become Germany’s 10th chancellor since the creation of the federal republic in 1949.

As defence minister under SPD chancellor Olaf Scholz, Pistorius has come to embody Germany’s military support for Kyiv since Russia launched a full-scale invasion of Ukraine in February 2022. Berlin is the second-largest supplier of military equipment to Kyiv, behind the US.

He will be in charge of accelerating the modernisation of the Bundeswehr, which started in earnest in 2022 when Scholz declared a Zeitenwende — a historic turning point — for Germany’s defence policy and set up an off-budget fund of €100bn to equip its military.

This effort was given a huge boost in the weeks following the victory of Merz’s Christian Democrats in elections in February. The conservative leader, who had previously refused to change the country’s constitutional borrowing limit, struck a deal with the SPD, his only viable coalition partner, to exempt most defence spending from the so-called debt brake.

Merz justified his sudden U-turn by citing the rapidly deteriorating transatlantic relationship under US President Donald Trump and the growing threat from Russia.

Economists have estimated Germany’s armed forces need more than €400bn in the coming years.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Bloxwich food pantry finds strong community response

Next Post

Spot Bitcoin ETFs Scooped Up Nearly 6x More BTC Than Miners Produced Past Week

Next Post
Spot Bitcoin ETFs Scooped Up Nearly 6x More BTC Than Miners Produced Past Week

Spot Bitcoin ETFs Scooped Up Nearly 6x More BTC Than Miners Produced Past Week

e.l.f. CEO says customers were ‘quite positive’ about the beauty giant raising prices due to tariffs: ‘We’re not trying to pull anything over on anyone’

e.l.f. CEO says customers were ‘quite positive’ about the beauty giant raising prices due to tariffs: ‘We’re not trying to pull anything over on anyone’

May 29, 2025
India’s Crypto Sector Demands Review on 30% Tax as Trump Support Changes Tone: Report

India’s Crypto Sector Demands Review on 30% Tax as Trump Support Changes Tone: Report

May 27, 2025
Millionaires shouldn’t get winter fuel payments, minister says

Millionaires shouldn’t get winter fuel payments, minister says

May 30, 2025
SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

June 1, 2025
SOL Strategies Files for B Financing Flexibility to Capitalize on Solana Ecosystem Growth

SOL Strategies Files for $1B Financing Flexibility to Capitalize on Solana Ecosystem Growth

May 27, 2025
Paris-Based Blockchain Group Plans M Bitcoin Purchase After Bond Sale

Paris-Based Blockchain Group Plans $72M Bitcoin Purchase After Bond Sale

May 27, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Dow futures dip as Wall Street weighs likelihood of Trump’s latest tariff threat, while U.S. eyes call to resolve China trade snag

Dow futures dip as Wall Street weighs likelihood of Trump’s latest tariff threat, while U.S. eyes call to resolve China trade snag

June 2, 2025
UK industrial strategy must deal with high energy costs, business warns

UK industrial strategy must deal with high energy costs, business warns

June 1, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!