EU’s First Defense Commissioner Floats Joint Bonds for Industry
- Andrius Kubilius is set to be the EU’s first defense chief
- He also suggested tapping the bloc’s pandemic-era fund
Andrius Kubilius
Photographer: Philipp von Ditfurth/picture alliance/Getty ImagesThis article is for subscribers only.
The EU’s first-ever defense chief, Andrius Kubilius, said it’s worth exploring the option of issuing joint bonds in order to raise the additional €500 billion ($556 billion) needed to bring the European Union’s industry up to speed.
Kubilius, who was addressing reporters in Strasbourg on Tuesday after officially being nominated for the European Commission post, suggested other options, such as tapping the bloc’s bailout fund or using unspent money from the EU’s pandemic-era Recovery and Resilience Facility.