Germany has passed a landmark spending bill, unlocking hundreds of billions of euros for defence spending and infrastructure investment. While the historic debt reform is expected to boost Europe’s largest economy,

German shares hovered near a record high on Tuesday, ahead of a parliamentary vote on historic debt reforms that will enable massive state borrowing to stimulate growth in the country. The pan-European STOXX 600 was up 0.

Germany is expected to pass a major spending bill on defence and infrastructure, allowing the country to unleash hundreds of billions of euros into the economy. Both the euro and Germany’s stock markets may maintain their uptrends amid optimism about the fiscal reform.