German Chancellor warns against rising European Union debt

German Chancellor Friedrich Merz warned this Thursday (11) against increasing the European Union's debt, as this would harm the ability of states to defend their sovereignty.

"New European debt is not the solution," he said, addressing parliament in Berlin. "Some countries already spend more on interest than on defense."

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In February, French President Emmanuel Macron advocated joint debt so the EU could keep up with the US and China, but Berlin opposes the idea.

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Source: CNN