Bundestag has decided to put the brakes on spiralling debt

With the German government being pressured to bail out companies in the auto and retail sectors at a time of falling tax revenues - the lower house of parliament, the Bundestag, has decided to put the brakes on spiralling debt. It's agreed to introduce a reform that would prohibit all of the country's states from incurring new debt from 20-20 onwards and would also restrict the country as a whole to debt no higher than point -35 per cent of its gross domestic product. The motion was approved with a two-thirds majority. +++MAZ+++