Finland unkeen on EU joint bond sales idea to fund energy and defence

To free itself from Russian energy, boost the green transition and increase defence spending, the EU is rumoured to be planning a vast recovery package. [Gerd Altmann / Pixabay]

To free itself from Russian energy, boost the green transition and increase defence spending, the EU is rumoured to be planning a vast recovery package. The initial response from Finland is distinctly cool.

According to the Bloomberg News Agency (8 March), the EU has preliminary plans to jointly issue bonds to meet energy transition demands and increased military spending.

The Commission Vice President Frans Timmermans denied the existence of such plans, which would need unanimous approval from member states. But the issue might be discussed in the Versailles summit this week.

On Wednesday 9 March, the Finnish PM Sanna Marin predicted that Finland would be against, or very critical towards, a scheme based on joint and several liability.

“Such openings we would try to turn down quickly,” she said. However, in an “acute situation” Finland could adopt a positive stance to measures that would “help countries to help themselves”, Marin said.

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