French President Emmanuel Macron said the European Union’s Covid-era debt should be rolled over and the bloc should issue new bonds, making the case for flexibility during “extraordinary times.”
“It doesn’t make sense to repay the Covid debt right now, which would have a negative impact on budgets, when there’s a demand for European securities and bonds,” Macron said in Athens on Saturday. “We got indebted during Covid. Today, we’re told: we need to pay it back fast. That’s silly. Let’s roll over this debt; let’s issue new bonds again, because people want these securities at a low price. That gives us breathing room.”