Finland Staunchly Opposes EU Joint Debt Proposal
Finland's Finance Minister Riikka Purra declared Finland's opposition to the European Commission's proposal for joint EU debt. The proposal aims to allow joint borrowing in emergencies. While some EU members see potential benefits, Germany, the Netherlands, and Sweden also oppose it, with Denmark expressing skepticism.
- Country:
- Denmark
Finland has voiced strong opposition to the European Commission's proposal for the European Union to assume more joint debt, according to Finance Minister Riikka Purra. Speaking on social media platform X, Purra stated, "We are not just critical but opposed," emphasizing Finland's readiness to reject the proposal.
The European Commission's suggestion to include joint borrowing in the budget for 2028-2034 is aimed at providing financial support during emergencies. Nonetheless, some EU member states believe that this could lead to more affordable borrowing rates.
Despite this, resistance to the proposal is evident, with Germany, the Netherlands, and Sweden also opposing it, while Denmark has expressed skepticism. The adoption of the new EU budget mandates approval from all 27 member countries and the European Parliament.
(With inputs from agencies.)
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