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German coalition proof of waning support for austerity Add to ...

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The world’s staunchest advocate of austerity is changing its tune.

German Chancellor Angela Merkel has agreed to a number of economic and social policy changes as part of a tentative deal reached between her conservative Christian Democratic Union and the centre-left Social Democrats to form a coalition government. The changes include an increase in stimulus spending, a lower age for pension eligibility and even the country’s first minimum wage.

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