Germany’s parliament has approved landmark spending reforms aimed at upgrading the armed forces, defense procurement and infrastructure, presenting significant opportunities for lawyers.
Business law firms expect to play a major role in updating Germany’s beleaguered armed forces, the Bundeswehr, as Germany’s chancellor-in-waiting Friedrich Merz counters the Trump administration’s antipathy toward supporting European security.
A tranche of €500 billion is set to be released for infrastructure and climate spending over the next 12 years. In addition, a constitutional amendment was passed that allows defense spending to bypass a constitutional debt brake, with about €500 billion more expected to be spent on defense over the same time period, opening the door for further spending and translating into big business for Big Law.