‘Ukraine war of existential importance to Europe so…’: German chancellor’s vow

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German Chancellor Olaf Scholz said on Tuesday that military and financial support for Ukraine is of “existential importance” to Europe while maintaining defense spending as Berlin faces a domestic budget crisis.

German Chancellor Olaf Scholz (AP)

Germany, along with the United States, has been one of Ukraine’s biggest supporters, Scholz said, supplying Kiev with weapons to fight Russian aggression.

“We will continue this support as long as necessary,” Scholes told parliament.

“This support is of existential importance. For Ukraine … but also for us in Europe.

“None of us wants to imagine the worst consequences for us if Putin wins this war,” Scholes said.

The chancellor spoke to MPs following a shock Constitutional Court ruling earlier this month that has left a gaping hole in the government’s spending plans.

Germany’s top court said the government had violated a constitutional debt law that limits new borrowing to 0.35 percent of GDP.

The verdict comes after the government has made a concerted effort to pass a new budget before the end of the year and mobilize much-needed investments in decarbonisation and the modernization of the armed forces.

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To ease the immediate crisis, the government plans to suspend the constitutional debt regime for the fourth year in a row.

In order to deal with the crisis caused by the corona virus and the increase in energy prices following last year’s Russian invasion of Ukraine. Between 2020 and 2022, the so-called credit brake has already been lifted.

Germany is supporting households and businesses with billions of euros to manage high costs, Scholes said.

But “it is not enough to look only at the winter of 2022-2023,” said Scholes, the price of energy was high.

“It was always the winter of 2023-2024,” Scholes said, projecting a continuing crisis that would warrant a re-raising of the debt ceiling.

“Under no circumstances should we end our support to Ukraine and to overcome the energy crisis,” Scholes said.

“This is irresponsible, which endangers our future.”



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