Top German Court Voids $65 Billion of Government Climate Funding

The Federal Constitutional Court of Germany ruled on Wednesday that the government's plans to transfer $65 billion (60 billion euros) from unused emergency COVID funding to Germany’s new Energy and Climate Fund is unconstitutional and the climate fund should be reduced by that amount. The ruling is a blow to the coalition government led by Chancellor Olaf Scholz and could put Germany’s spending plans in jeopardy. Scholz’s government has authorized the borrowing of 60 billion euros, granted in response to the pandemic but not needed…