EU Needs Funds to Counter US Energy Push: Here Are the Options
- EU faces challenges of US climate act, ditching Russian gas
- Questions remain over adopting new EU financial instruments
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The European Union is discussing how to boost its financial muscle to counter the US’s $369 billion green subsidy package and tackle costly challenges such as weaning itself off Russian energy and rebuilding Ukraine.
Options range from simply reshuffling existing funds and bolstering the European Investment Bank to additional joint borrowing to create new tools and topping up its common budget.