German Stimulus

German daily Deutsche Welle reports on German plans to inject close to $68 billion in government spending and infrastructure investment in the coming year. 

Government officials are meeting tomorrow to finalize the details, but it looks as if the plans will breach EU caps on government spending that seek to reduce borrowing.  According to Deutsche Welle:

"The Maastricht rules agreed when the euro was introduced require euro nations to limit net borrowing to no more than three percent of GDP.  The strict rules are meant to underpin the common currency and keep it stable."

German spending plans will equal about 3.5 percent of the nation's GDP this year and near 4.5 percent next year.