Thursday, June 1, 2023
HomeEconomyTop EU officials call for joint lending to tackle energy crisis

Top EU officials call for joint lending to tackle energy crisis

BRUSSELS (Reuters) – Two senior European Commission officials on Tuesday called for countries to join the European Union for joint borrowing to finance the response to the energy price crisis, namely

In an op-ed in The Irish Times, European Economics Commissioner Paul Gentiloni and Internal Market Commissioner Thierry Breton said the new borrowing could be modelled on jointly issued debt. Subsidizing jobs that would have been lost during the COVID-19 pandemic.

Their proposal is a massive 200 billion euro ($197 $400 million) family and company backing in Germany The package has raised concerns about the fairness of competition in the single market from other EU governments, which are unable to provide such support.

“It is more important than ever that we refrain from fragmenting the internal market, creating subsidy races and questioning the principles of solidarity and unity in support of our European projects,” the commissioners wrote.

“There is only one possible response to the enormous challenge before us: a united Europe. To overcome the fault lines created by the differing leeway in national budgets, we must Consider common use of tools at the European level,” they wrote. 100 Borrow money from the government at very low cost under its SURE program to subsidize workers’ wages during a recession.

“The inspiration for a ‘SURE’ mechanism to help Europeans and industrial ecosystems in the current crisis may be a short-term solution,” the commissioners wrote.

” it could also pave the way for the delivery of “European public goods” in the energy and security sectors, the only way to systematically respond to crises, “they said.

($1=1.0130 EUR)



Please enter your comment!
Please enter your name here


Featured NEWS