Contentious budget plans are wreaking political havoc across Europe Published Wed, Dec 4 20243:25 AM ESTUpdated 51 Min Ago Leonie Kidd; Head of TV News, EMEA WATCH LIVE

since 1958. Lack of political certainty in Europe comes at worst moment after U.S. election, says CIOwatch now VIDEO03:13 Lack of political certainty in Europe comes at worst moment after U.S. election: CIO The political brinkmanship has driven French stocks lower, while pushing borrowing costs to highs not seen since the euro zone debt crisis of the last decade. Over in Berlin, Chancellor Olaf Scholz made a surprise visit to Kyiv on Monday, pledging an arms deal worth 650 million euros with Ukrainian President Volodymyr Zelenskyy. The move raised eyebrows back in Germany, as the government’s aid to Ukraine was central to the disagreements within the coalition. The collapse of this government could have longer term ramifications for Germany’s fiscal rules, with opposition leader Friedrich Merz saying he would consider reviewing the once-sacred borrowing rules. There is more budget-related damage across the English Channel, where business confidence has dropped to the lowest level since the Covid-19 pandemic, and manufacturing