Greek PM Calls for Ambitious EU Joint Borrowing Initiative

Greek Prime Minister Kyriakos Mitsotakis advocates for a serious discussion on a joint EU borrowing facility, suggesting it should include grants to enhance defense investments. This proposal highlights a shift from EU's traditional focus on loans and aims for increased financial collaboration among member states.

Greek Prime Minister Kyriakos Mitsotakis proposed an ambitious European Union joint borrowing facility to include grants aimed at boosting defense investments. Speaking before an EU leaders' meeting in Brussels, Mitsotakis underlined the need to go beyond current loan-only structures and explore comprehensive funding strategies.

He emphasized the potential benefits of such a facility in enabling member states to make substantial defense investment decisions. The Greek leader's call for a broader financial collaboration marks a pivotal moment for EU fiscal policy discussions.

As the EU navigates complex economic challenges, Mitsotakis's proposal seeks to drive meaningful debates on integrated financial solutions to enhance the bloc's strategic capabilities.

(With inputs from agencies.)