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EU to Consider Massive Joint Bond Sales to Fund Energy, Defense

  • Plan could be unveiled this week but details still in flux
  • EU’s Timmermans says commission has no plans for common bonds
Bloomberg business news
WATCH: Rabobank’s Jane Foley says reports of an EU plan to issue joint bonds is short-term comfort to markets and more needs to be done to secure energy supplies.Source: Bloomberg
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The European Union is discussing a plan to jointly issue bonds on a potentially massive scale to finance energy and defense spending as the bloc copes with the fallout from Russia’s invasion of Ukraine.

The proposal may be presented after the EU’s leaders hold an informal summit in Versailles, France, that starts Thursday, according to officials familiar with the preparations. Officials are still working out the details on how the debt sales would work and how much money they intend to raise, depending on the guidance they receive from leaders in this week’s meeting.