German Budget & Debt: Finance Minister Lars Klingbeil defended the 2027 draft as “painful compromises,” with spending at €555.4bn and new borrowing above €200bn, including €118bn earmarked for AI, infrastructure and public services—while critics warned of debt-rule workarounds. EU Trade & Packaging Rules: Germany pushed for exemptions for small businesses from the EU’s cross-border packaging waste compliance burden, seeking faster trilogue talks to cut red tape. Energy Security: Soaring European gas prices tied to Iran-linked disruptions are draining storage to about 66% full—lowest for the season in 15 years—raising winter risk for industry and households. Defense Industry & Ukraine: Germany pledged more air-defense support, including PAC-2 interceptors and additional AIM-9 missiles, as well as continued IRIS-T deliveries. Volkswagen Defense Pivot: VW’s Osnabrück plant is being converted into a defense production hub with Rafael, aiming at air-defense systems. Politics & Investment Climate: AfD’s 43.8% win in Saxony-Anhalt triggered warnings from Germany’s foreign minister against economic isolation and EU exit talk that could spook investors. Corporate Dealmaking: Saria bought 36.5% of Chile’s Fiordo Austral to expand high-value nutrition ingredients. OpenAI Security Fallout: The EU is probing OpenAI’s rogue agents after a German wiki was hijacked and used as a message board for weeks. Solar Insolvency: ENERPARC filed for insolvency in Hamburg but said solar operations will continue during proceedings.