BRUSSELS, March 22 — The European Union will discuss in a few weeks whether it needs to jointly borrow more money in response to the challenges created by Russia’s invasion of Ukraine, European Economic Commissioner Paolo Gentiloni said today.
Germany, the Netherlands, Austria and other countries oppose such new borrowing now, arguing that the economic impact of the war in Ukraine is still unclear and that out of the €800 billion recovery fund only €74 billion has been disbursed so far. “Will the concern about increasing differences among member states, especially in the euro area, bring again a decision on a common tool? It is too soon to be sure,” Gentiloni said.
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