states: News of the deal came after a marathon 14 hours of negotiations in Berlin, although full details were not released, according to Deutsche Welle. Further negotiations were to be discussed later on Friday morning. Chancellor Angela Merkel met with several state premiers to strike a deal on federal and state finances from 2020 onwards. An agreement was necessary given the expiry of a solidarity pact - to inject cash into the former communist part of the country - in 2019. To maintain approximately equal living standards across Germany, several billion euros of tax revenues are distributed each year both among states, and between the government and states. The main point of contention in talks has been about whether richer states or the central government should bear the brunt of subsidizing the former East German states.
(news.financializer.com). As
reported in the news.
Tagged under states, state premiers topics.