Concerns Over Global Debt: Merz's Stance on EU Military Financing

German Chancellor Friedrich Merz has voiced his reservations over the European Union resorting to joint debt issuance to fund military expenses. His main concern pivots around the escalating state debt, a predicament not only confined to Europe but observed globally, including in the United States.

Merz argues that while the EU has the option to issue common debt instruments, this should be a last resort employed only under rare circumstances. Instead, he points to enhancing efficiency in defense spending as an alternative solution. This efficiency might alleviate the need for additional financial burdens.

Chancellor Merz underscores the unsustainable nature of continuously rising national debts. He stresses the pressing issue of managing not only the principal debt but also the accumulating interest obligations. The possibility of perpetually accumulating debt without hitting a financial threshold remains a global concern, according to Merz.

(With inputs from agencies.)