Joint EU debt must not become a regular thing: Germany's Weidmann

  • 📰 Reuters
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

A decision by European leaders to issue joint debt to finance coronavirus aid for weaker member states should remain an exemption and not serve as a blueprint for future budget challenges, Bundesbank President Jens Weidmann said on Sunday.

FILE PHOTO: German Bundesbank President Jens Weidmann attends the 29th Frankfurt European Banking Congress at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski

“It’s important that the EU has proven its capability to act in the crisis,” Weidmann told Funke media group in an interview, adding that showing solidarity also in financial terms was the right thing to do in the current crisis. “Generally, I think joint debt for extensive transfers is questionable. At the very least, the package should not serve as a springboard for large-scale EU debt for regular household financing,” he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Don’t worry you haven’t paid out any money to the 27 yet, another meeting to agree when.

The floodgates have opened, you will now start paying for your crimes

Leadership always has its costs. If you do not accept this, you can become a dictator or stop being a leader.

bankrupt states like Italy n Greece are milking Germany for more gifts n fund Ever since GFC they have been a big burden Kick them out of EU

I sure hope not. This is an emergency situation.

Question. Can one member of the EU borrow money from another, or is their treasury more of a collective?

Germany is going to destroy the EU for the second time

The cat is out of the bag on that one.

Bahahah

Why? Spend now, start collect tourist fee from extraterrestrial creatures from year 2750

Agree 100% with you but first get rid of covid 19

The better time to think of that was actually a week ago.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines