Finnish President Sauli Niinistö has expressed growing concern over the way the EU is stretching the limits of its treaties.
Speaking at the Ambassadors’ Conference on Tuesday (25 August), Niinistö pointed out that there is a growing gap between the EU treaties and the actual legal actions the bloc is taking. The sharp tone of his speech came against the background of the recently agreed €750 billion Covid-19 recovery package.
“The Stability and Growth Pact for the Eurozone was supposed to set limits for indebtedness and budget deficits. The ‘no bail-out’ principle was supposed to be unambiguous. It was not foreseen that the European Central Bank would become the debt security holder for the member states. The EU budget was not supposed to be financed by taking deb,” Niinistö said.
“Once we have tackled the coronavirus, it is time to return to the rules-based system,” Niinistö concluded.
(Pekka Vänttinen | EURACTIV.com)