EU aid should be exception, not rule – Weidmann

President of the Deutsche Bundesbank Jens Weidmann (pictured) said on Sunday that the EU decision to issue joint debt in order to help weaker member states impacted by the COVID-19 should be an exception and not the rule for the bloc’s future behavior.

He told Funke media group that “it’s important that the EU has proven its capability to act in the crisis,” adding he thinks “joint debt for extensive transfers is questionable. At the very least, the package should not serve as a springboard for large-scale EU debt for regular household financing.”

Weidmann also stated Germany has passed the peak of the COVID-19 pandemic “and is now gradually recovering.”



Breaking the News / TF



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