EU Member States Yet to Agree on New Debt Plan, Donohoe Says
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EU members are discussing a new joint debt plan for defense and energy spending in reponse to Russia’s invasion of Ukraine, but have yet to reach agreement, Eurogroup President Paschal Donohoe said, adding the bloc plans to use existing funding mechanisms for now.
European Union leaders last week discussed how to cover financing needs that could reach as much as 2 trillion euros ($2.2 trillion) for spending on bolstering defense and reducing Europe’s energy dependence on Russia, including through the possible use of joint debt.