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     The paper discusses the recently reformed articles 109 and 115 as well as the respective temporary arrangement of article 143d of the German Basic Law. The aim of these norms is to limit public sector borrowing for both the federal state and the lands of the Federal Republic of Germany. The author critically assesses the capacity of the new regulations to achieve this aim. The different solutions for public debt will only be capable of alleviating the problem of excessive new public debts if there is a corresponding political will. The new regulations, partly following EU law, ignore the fact that the self‐binding constraint of the democratic legislator in the sensitive area of public finance tends to exceed the jurisdiction of constitutional law. Thus it is argued that the new regulations are for the most part an act of merely symbolic legislation. They do not truly deserve to be called a “debt brake”.

Die neuen Schuldenbegrenzungsregeln für Bund und Länder – symbolische Verfassungsänderung oder gelungene Schuldenbremse?