During a visit to Greece on Saturday, French President Emmanuel Macron called for a postponement of the repayment of the debt created at the European level in response to Covid.
In July 2025, the Commission proposed a budget for 2028-34 of nearly €2 trillion, €165 billion of which is dedicated to debt repayments for the bloc’s pandemic recovery fund.
“We went into debt during the Covid crisis and now we’re being told we have to pay it back quickly, it’s idiocy,” Macron said at a press conference with Greek Prime Minister Kyriakos Mitsotakis, recalling the need for more public and private investment in the EU.
According to Macron, there is “an appetite for European debt” among global investors. In an unpredictable geopolitical situation, he said, they want to reduce their risk with “an asset that is both safe and liquid,” like European debt.
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“Let’s spread the debt over time and issue new bonds,” he said. In recent months, the idea to issue more ordinary debt has come to fruition the opposition of Germany.
Greek Prime Minister Mitsotakis stressed that Europeans would find “a solution”, adding that a common debt “would make us stronger as Europe”, AFP reported. The EU “is now seen as a safe and reliable borrower”, he said.
On Tuesday next week, the European Parliament will approve a proposal that excludes debt repayment costs from the budget.
(adm)
