With Macron Distracted, Germany Shuts Down Push for Joint EU Debt
- Turmoil at home has undermined French influence, officials say
- European officials say prep for joint bonds hasn’t been done
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The German government and its allies are succeeding in their efforts to block plans for new joint borrowing to finance critical European Union projects like defense.
So-called defense bonds are likely to be off the table when European leaders gather Thursday to discuss their top priorities for the next five years, according to officials with knowledge of the preparations. The push to shut down debate on shared debt has been helped by the turmoil in France, said the officials, who asked not to be named discussing private conversations.