The prospective partners in Germany’s next government say they will seek to loosen the nation’s rules on running up debt to allow for higher defense spending.

Germany has preached fiscal conservatism for years, but suddenly it’s taking the lead on pushing for European Union reforms aimed at freeing up more money for defense spending over the long term. A German envoy to the bloc has urged the bloc to change its budget rules in the face of geopolitical circumstances,

Germany's "debt brake,” introduced more than a decade ago, allows new borrowing to the tune of only 0.35% of annual gross domestic product, though it can be suspended for emerge