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EU Budget Chief Downplays Need for New Joint Debt Issuance

  • Hahn said there is money available to address ongoing crisis
  • New funds will depend on the results of existing instruments
Updated on

The European Union’s budget chief pushed back against the idea of raising new joint debt to weather the impact of the ongoing war in Ukraine and to finance the bloc’s defense and energy priorities.

Instead, Johannes Hahn urged member states to use more than 1 trillion euros ($1.1 trillion) of EU funds available to cope with the current crisis.