A decision by European leaders to issue joint debt to finance coronavirus aid for weaker member states should remain an exemption and not serve as a blueprint for future budget challenges, Bundesbank President Jens Weidmann said on Sunday.
FILE PHOTO: German Bundesbank President Jens Weidmann attends the 29th Frankfurt European Banking Congress at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski
“It’s important that the EU has proven its capability to act in the crisis,” Weidmann told Funke media group in an interview, adding that showing solidarity also in financial terms was the right thing to do in the current crisis. “Generally, I think joint debt for extensive transfers is questionable. At the very least, the package should not serve as a springboard for large-scale EU debt for regular household financing,” he said.
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