Germany Shocks Markets by Unleashing Billions
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When UK Prime Minister Keir Starmer declared on Sunday the need for a “coalition of the willing” to support Ukraine, he did so from London’s Lancaster House, the same location where Mario Draghi once pledged that the European Central Bank would do “whatever it takes” to protect the euro.
Two days later, Germany’s Merz used Draghi’s catchphrase when talking about efforts to defend the country, as he announced plans to set up a €500 billion infrastructure fund. Meanwhile, the EU will propose extending €150 billion in loans to boost defense spending.
And traders are rushing to respond this morning: