EU Defense Bonds Needed as Russia Threatens Region, Estonia Says
- Kallas says defense an ‘intellectual’ issue for some in EU
- EU must counter Russia, China, Kallas says in interview
A move to issue more debt on top of the EU’s €750 billion Covid-19 borrowing program would likely face opposition from states with tighter fiscal policies.
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The European Union should issue joint debt to help support its defense sector and provide more backing for Ukraine, according to Estonia’s premier, part of a new push in the region for such a move.
Prime Minister Kaja Kallas said that a joint bond issuance program, like the one put in place to help EU member states recover from the pandemic, would counter criticism from the defense industry that there aren’t enough orders to scale up production of arms.