Weidmann warns: No springboard for a large-scale EU debt

Jens Weidmann, the inclusion of common debts of the EU States to deal with the Corona-crisis critical. "Community debt for large Transfers, I think, is general

Weidmann warns: No springboard for a large-scale EU debt

Jens Weidmann, the inclusion of common debts of the EU States to deal with the Corona-crisis critical. "Community debt for large Transfers, I think, is generally cause for concern," said the President of the German Bundesbank, the Newspapers of the Funke media group. "At least, the package should serve as a springboard for large-scale EU debt to the regular budget financing."

however, It is important that the EU have proved during the crisis able to act. "Solidarity in Europe – also financial – I think in this Situation, is right," said Weidmann. "So that the funds are effectively and efficiently used, it needs control mechanisms."

The EU member States had done during the recent summit, is very difficult with the agreement and for four days and nights of wrestling. The way for the overall deal was free after the so-called efficient States had accepted that joint debt and money as a grant to the EU States. In return, Germany, France, Italy and Spain agreed to reduce the sum of these subsidies of 500 billion to 390 billion euros.

Updated Date: 26 July 2020, 14:19

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