Central Banks
Bundesbank Chief Opposes Joint EU Borrowing Beyond NextGenEU
- Common debt not necessary for defense purposes, official says
- German central bank chief Joachim Nagel speaks in Frankfurt
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Germany’s central bank chief voiced doubts over the need for joint European Union debt issuance.
“I do not see much merit in giving incentives on the fiscal side to increase subsidies and state aid,” Joachim Nagel said in Frankfurt on Tuesday. “And you won’t be surprised that the Bundesbank is skeptical about extending the scope of joint borrowing beyond the NextGenerationEU program.”