Germany’s Lindner pushes back on new EU debt in response to Ukraine war – POLITICO

German Finance Minister Christian Lindner has pushed back on calls for the EU to issue new joint debt to finance increased defense and energy spending as a response to Russia’s invasion of Ukraine.

Asked about Lindner’s views today, a Department spokesman referred to comments the Minister made Monday at a joint press conference with Dutch Finance Minister Sigrid Kaag.

“We support Ukraine. There is also a joint European effort to continue supporting Ukraine. But that is not up to the financial instruments debate. Lindner said shared responsibility in Europe through the issuance of common bonds is not on the agenda at the moment.

Various media, including Bloomberg and worldreports that the EU is discussing a large new fund, set up as a response to the war and financed with common debt.

Bloomberg said the EU will announce plans to borrow “on a potentially large scale to finance energy and defense spending.” Le Monde said the fund would ease the impact of sanctions on EU economies and help EU members diversify their energy supplies. It said France also supported the use of the fund for defense spending.

POLITICO last week reported that the EU is considering a range of measures to deal with the economic impact of war. Such measures may include the reuse of loans, new debt to raise money for loans in the event of a spike in energy prices, and Officials and diplomats said guidelines for the speedy approval of state subsidies. Germany's Lindner pushes back on new EU debt in response to Ukraine war - POLITICO

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