Macron proposes rescheduling European debt during the Covid-19 pandemic and launching new loans: “Maybe we have an interest in issuing debt together”
French President Emmanuel Macron pleaded from Atente for a rescheduling of the European debt contracted during the covid-19 pandemic and for the launch of new joint loans for strategic investments.
Macron insists on new European loans. PHOTO Profimedia
The statements were made during a press conference held alongside Greek Prime Minister Kyriakos Mitsotakis, according to AFP reports, quoted by News.ro.
Emmanuel Macron explained that the accelerated repayment of the European debt would be the wrong approach and proposed the extension of the payment period as well as the reissuance of Eurobonds, financial instruments already used during the pandemic.
“We got into debt at the time Covid. Today we are told 'we have to pay back quickly'. It's an idiotic thing. Let's stagger this debt. Let's do reissuance (of Eurobonds), because people want this cheap paper.” said the French president on the second day of a visit to Athens.
Regarding some expenses “ of common interest that we are (…) perhaps we have an interest in issuing debts together,” Macron pointed out, citing “defense, space and artificial intelligence”.
The French leader pointed out that areas such as defence, space and artificial intelligence could justify new joint loans, despite the reluctance of some member states, including Germany, who consider such mechanisms acceptable only in exceptional situations.
The French president warned that Europe risks falling behind technologically if it does not strengthen its investment capacity and insisted that the European Union must find additional resources to maintain its competitiveness.
For his part, Kyriakos Mitsotakis, the prime minister of Greece, said he was optimistic that the member states would reach an agreement, saying that a common debt would strengthen the position of the European Union, already considered a solid and reliable debtor.
