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Gentiloni-No Debate On New EU Borrowing Yet, Special Framework For Def Exp

EU

European Commissioner for Economy Paolo Gentiloni has stated that he believes defence spending should have special treatment under EU fiscal rules. Gentiloni said that increased expenditure on EU defence would, "require a more supportive framework of fiscal rules and potentially new tools at the European level".

  • Also says that 'the discussion around new EU joint borrowing is unlikely to take place now" Says that focus at present is on the "emergency reaction". Says that, "The discussion will take place in a few weeks when we have a clearer picture of the economic impact of this [Ukraine] crisis." Adds that the talks will have to take place at some point, "We cannot put this off the table"
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