EU Eyes Joint Funding to Cover 2 Trillion Euros in Spending
- EU leaders met for a two-day summit in Versailles, France
- They discussed how to bolster energy security, defense
The European Central Bank headquarters in Frankfurt.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
European Union leaders discussed financing as much as 2 trillion euros ($2.2 trillion) in new spending on defense and energy that will be required following the Russian invasion of Ukraine, including through the possible use of joint debt.
The leaders met in Versailles, France, on Thursday and Friday, days after Bloomberg reported that discussions were beginning in the EU to sell bonds to finance the new investments. Italian Prime Minister Mario Draghi said on Friday that EU spending for climate, defense and energy could be between 1.5 trillion and 2 trillion euros.