The EU should not force the future generation into debt!

Today, the Committee on Budgets of the European Parliament discussed the EU’s diversified borrowing strategy in connection with the 18 billion euro financing of Ukraine and the post-coronavirus recovery instrument. Andor Deli, a Fidesz member of the European Parliament, highlighted in the debate that the EU must not become a debt community and should not force the future generation into debt.

MEP Andor Deli said: Europe has been facing constant challenges for the past few years, which required innovative methods and new financial instruments. This was the motto behind the originally EUR 750 billion NextGenerationEU.

At the same time, MEP Andor Deli drew attention to the fact that there is a serious delay in payments for recovery funds. Two years have passed, but only EUR 95 billion of the available EUR 338 billion in support has been paid. In the case of loans, this figure is even lower: 47 billion of the possible 385 billion euros were transferred. 16 Member States have not yet received any funds apart from the pre-financing, and there are still 5 Member States that have not received even their pre-financing.

According to MEP Andor Deli, this creates unequal conditions of competition between national economies. because, by definition, the EU must compensate for existing inequalities in market conditions among its member states rather than exacerbating them. Especially since all member states must contribute to the repayment of common loans even if they have not received a single euro cent.

MEP Andor Deli pointed out: This also shows that common depth, as a tool for crisis management, is not a panacea, so it must remain an exceptional, unique case. The EU should be held together by the principle of the four freedoms, not by the debt community.