![15 November 2023, Berlin: From left to right: German Finance Minister Robert Habeck, Chancellor Olaf Scholz and Finance Minister Christian Lindner appear after the Constitutional Court declared the amendment to the 2021 supplementary budget unconstitution](https://assets.euromoneydigital.com/dims4/default/66c2f05/2147483647/strip/true/crop/5000x3333+0+0/resize/800x533!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fb3%2F85%2F1ee79bd744839d29d0ba1e89afdd%2Fgermans-alamy-1dec23.jpg)
The German constitutional court has rocked the country's public sector borrowers just as they finalise their funding needs for 2024.
We look at how the new multi-billion euro-sized hole in the government's budget that is the result of the ruling will affect Bund issuance next year, as well as the funding programmes of KfW and the countries federal states.
Meanwhile, banks are paring down the amount of lending they do to companies in the quest for profitability. But there is evidence that borrowers are perfectly happy with shrinking syndicates. We explain why.
Subscribe to GlobalCapital's Podcast
You can listen and subscribe for free on your favourite podcast platform including: