Public, private sectors eye new deal to revitalise infrastructure

Germany’s successful drive to balance its public budgets has required sacrifices. Federal and local governments have scrimped for years on renewing infrastructure, from roads to ports. Now the country knows it must tackle this. As Jon Hay reports, private purses are bursting with money to lend. But the government has to decide whether to keep borrowing mainly in its own name — or to accelerate investment, at a cost, with new agencies and PPPs.