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Let’s talk about the EU’s permanent debt – POLITICO


European Central Bank President Christine Lagarde wants EU governments to consider the possibility of making EU debt a permanent part of the bloc’s economic response to crises, she told the World in one maintenance published Monday.

Speaking of the € 750 billion debt-fueled response to the coronavirus crisis, which the European Commission will borrow from financial markets and disburse in the form of grants and loans to EU countries, Lagarde said that “This stimulus tool responds to an exceptional situation. We should discuss the possibility that it remains in the European toolbox, so that it can be mobilized again in equivalent circumstances.

Lagarde had previously denied the possibility of making this exercise permanent – a toxic proposal for so-called frugal countries like Austria, the Netherlands, Denmark and Sweden. Last month, she said “It is a one-off response to exceptional circumstances” during a hearing in the European Parliament.

In the interview with Le Monde, however, she seemed open to the possibility of a lasting European debt. She also called for discussions on a permanent budget for the euro area: “I hope that a debate on a common budgetary tool specific to the euro area can also take place, and learn the lessons of what is happening today” hui, ”she said.



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