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Analysen Haushaltspolitik; Chancen und Risiken der neuen Schuldenbremse – eine juristisch-ökonomische Analyse Cover

Analysen Haushaltspolitik; Chancen und Risiken der neuen Schuldenbremse – eine juristisch-ökonomische Analyse

By: Marco de Pinto and  Tim Husemann  
Open Access
|Jul 2025

Abstract

The German debt brake, reformed in March 2025, raises questions about its economic impact and constitutional design. This paper provides an interdisciplinary analysis of these reforms. Economically, it shows that a growth-oriented use of new borrowing capacities is theoretically possible. However, such an allocation of financial resources is not legally mandated. Legally, it becomes clear that the Basic Law was broadly formulated due to its function within the normative framework, thus allowing for imprecise uses. The analysis illustrates that the new debt brake does not automatically contribute to future viability. Securing this remains a necessary subject of scientific debate across disciplinary boundaries.

DOI: https://doi.org/10.2478/wd-2025-0130 | Journal eISSN: 1613-978X | Journal ISSN: 0043-6275
Language: German
Page range: 499 - 504
Published on: Jul 25, 2025
Published by: ZBW – Leibniz-Informationszentrum Wirtschaft
In partnership with: Paradigm Publishing Services
Publication frequency: 12 issues per year
Keywords:

© 2025 Marco de Pinto, Tim Husemann, published by ZBW – Leibniz-Informationszentrum Wirtschaft
This work is licensed under the Creative Commons Attribution 4.0 License.