Top EU officials call for joint borrowing to tackle energy crisis


Top EU officials call for joint borrowing to tackle energy crisis

Two senior European Commission officials on Tuesday called for joint borrowing by the European Union of 27 to finance a response to the energy price crisis that threatens to plunge the bloc into recession.

In an editorial in the Irish Times, EU Economics Commissioner Paolo Gentiloni and Internal Market Commissioner Thierry Breton said the new common borrowing could be modeled on common debt issued during the COVID-19 pandemic to subsidize jobs. that would otherwise have been lost.

~ It would make sense… IF… the EU could agree, and more importantly, stick to decisions made to tackle a crisis. And given the rift seen in the block on vaccines, I’m not holding my breath.


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