Germany's Scholz remains resolute in overcoming budget crisis

German Chancellor Olaf Scholz expressed confidence that negotiations with coalition partners to address the country's budget crisis, caused by a court ruling, will result in a deal. Scholz emphasized that there will be no cuts to the welfare state, despite calls for reform from the Finance Minister. Talks are focused on suspending the debt brake for next year to fill a budget gap, leaving spending on industrial projects, climate policy, and welfare uncertain. The ruling has caused concern among industrial firms regarding Germany's funding for its transition to carbon neutrality. The SPD has agreed on the need for medium-term borrowing limit reforms, while Scholz stressed the importance of a common understanding within the coalition. He also highlighted the need for continued aid efforts to Ukraine until 2025.