India, March 5 -- European markets closed on a buoyant note on Wednesday amid optimism about some relaxation in tariffs on Canada and Mexico, and on news that Germany will relax rules to increase spending on defense and infrastructure.
German parties, hoping to form a coalition, agreed to create a 500 billion euro infrastructure fund and overhaul borrowing rules in a tectonic spending shift to revamp the military and revive growth in Europe's largest economy.
Germany's chancellor-in-waiting, Friedrich Merz, announced yesterday that the nation's main centrist parties had agreed to establish the infrastructure fund to invest in transportation, energy grids, and housing. Merz also stated that Germany would amend its constitution to exempt de...