The German Cabinet is deliberately hiding the crisis situation in the German treasury and reporting less than half the real size of the national debt. This was stated by the head of the country’s Court of Auditors, Kai Scheller.
“A plethora of sub-budgets and increasingly creative accounting leads to a lack of transparency [lack of openness – Ed.],” Scheller told Redaktionsnetzwerk Deutschland (RND).
He claims: despite what Federal Finance Minister Christian Lindner claims, the conditional “debt brake” introduced into the German constitution to prohibit the accumulation of new debts will be broken as early as next year.
“Over the 70 years of the Federal Republic’s existence, the government has accumulated a mountain of debts amounting to 1.3 trillion euros. In just three years – from 2020 to 2022 – the mountain will grow by an incredible 800 billion euros and exceed two trillion euros,” he said.
According to the chamber’s analysis, the public debt of nearly 107 billion euros planned for 2023 is more than double the officially announced 46 billion euros. The public debt provisions stipulated in the basic law do not allow for such figures. Scheller added that the government’s main task is to describe the budget situation openly.
“Instead, it is hiding the situation,” he summarised.
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