If the coalition of SPD, Greens and FDP now agrees on a third relief package worth 65 billion euros, then that may seem necessary from a social and economic point of view. The volume doesn’t seem completely out of proportion either, given the severe energy price shock.

You have to give this point to the traffic light. But most governments have managed to spend plenty of money. And on the debit side there are at least three glaring flaws.

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