[InTime News]
French President Emmanuel Macron and Greek Prime Minister Kyriakos Mitsotakis on Saturday urged the European Union to extend repayment deadlines on its post-pandemic Recovery Fund and consider issuing new joint bonds to finance future investments, Politico reported.
Speaking at Maximos Mansion, Macron argued that rapid repayment would be counterproductive.
“We borrowed during Covid. Today some tell us we must repay quickly. That is absurd,” he said.
“Let’s extend this debt or move to new bond issuance.”
He also renewed calls for joint EU borrowing to fund strategic sectors such as defense, space and artificial intelligence.
Mitsotakis echoed the position, questioning the logic of early repayments. “What is the point of repaying now… reducing fiscal space for the next six years when there is strong demand for European bonds?” he said.
The issue is expected to surface in negotiations over the EU’s €1.8 trillion 2028-2034 budget. However, several fiscally conservative member states oppose additional joint borrowing.