Berlin unveils climate package as hundreds of thousands take to the streets

“This is economic madness and at the same time, expected. The balanced budget has such a high political significance that no one dares to go against it. Not even for the climate, at a time of negative interest rates,” said Christian Odendahl, chief economist at the Centre for European Reform, a think tank.Mr. Odendahl said financing green subsidies with carbon dioxide revenues was a zero-sum redistribution scheme, and that the allegiance to “black zero”—as Germany’s goal of maintaining a balanced budget is known—would automatically lead to a lower carbon price.