German Economy Minister Cancels COP28 Trip Amid Budget Crisis

Coalition Government in Intensive Talks to Address €17 Billion Deficit in 2024 Budget

German Economy Minister Robert Habeck has cancelled his planned trip to the COP28 climate summit in Dubai and other Middle East countries to focus on Germany's budget negotiations.
The German government is currently in talks to address a €17 billion ($18.5 billion) deficit in the 2024 budget, following a constitutional court ruling that deemed its original spending plans illegal.
The three-party coalition government, consisting of the Social Democrats (SPD), the Greens, and the Free Democrats (FDP), is trying to find an agreement on how to balance the budget and where to potentially cut spending.
Finance Minister Christian Lindner, representing the most fiscally conservative party in the coalition, opposes declaring another emergency and borrowing more funds, suggesting instead to cut social spending.
If no solution can be found, the situation could potentially topple the coalition, although all sides in the government express confidence in reaching an agreement.