French President Emmanuel Macron stated that the European Union should not rush to repay the debt accumulated during the COVID-19 pandemic and proposed refinancing it by issuing new bonds. This is reported by Bloomberg, writes UNN.
Details
According to the French leader, the immediate repayment of the debt will create additional pressure on the budgets of EU countries.
There is no sense in repaying the Covid debt right now… That's nonsense. Let's refinance this debt
The debt issue has become one of the key ones in discussions on the EU budget after 2027. It is expected that member states will agree on new multiannual financial frameworks by the end of the year.
This involves a significant budget increase – to 1.8 trillion euros compared to 1.2 trillion in the previous period.
Positions of countries
Greek Prime Minister Kyriakos Mitsotakis also supported the idea of postponing debt repayment, noting that there is currently no economic need for it.
Discussions continue in the EU on balancing spending growth, including on defense, with the need to service significant debt obligations accumulated during the pandemic.
France and Greece have extended their defense pact25.04.26, 15:17