German Chancellor Olaf Scholz has announced sharp hikes in the country's defence spending.

Speaking at an emergency session of the German parliament he said €100 billion ($113 bn) will be added to Berlin's military budget this year.

It means Germany will now spend more than 2% of its annual GDP on defence, a longstanding NATO target the country has previously failed to meet - despite pressure from the US, and in particular former President Donald Trump.

It's the latest in a string of policy reversals announced by Germany in the last few days, including its decision yesterday to start sending weapons directly to Ukraine.

German Chancellor Olaf Scholz says the world has "entered a new era" following Russia's invasion of Ukraine, and that "there could be no other answer to Putin's aggression".