Germany’s Altmaier Spurns French Push for Permanent EU Debt

Focus should be on spending EU750 billion, industrial projects
German economy minister speaks at Aix-en-Provence gathering

Peter Altmaier
Photographer: Christophe Morin/Bloomberg

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By Ania Nussbaum and William Horobin

July 4, 2021 at 1:09 PM UTC

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German Economy Minister Peter Altmaier poured cold water on a French proposal to give the European Union a lasting tool to raise common debt.

France intends to push for a permanent mechanism on joint EU debt issuance to drive investment in innovation that member countries can’t finance on their own, according to Finance Minister Bruno Le Maire.