German Chancellor-in-waiting Friedrich Merz said he had secured the crucial backing of the Greens for a massive increase in state borrowing, clearing the way for the outgoing parliament to approve it next week.

BERLIN (Reuters) - German Chancellor-in-waiting Friedrich Merz was set to make a last-ditch attempt on Friday to convince the Greens of his plans for a massive increase in state borrowing to bolster defence and infrastructure ahead of a parliamentary vote next week.

Germany’s chancellor-in-waiting Friedrich Merz reached an agreement with the Greens party on a fiscal reform package for large investments on infrastructure and defense, according to a report by newspaper Handelsblatt.