TAE Demands: A Clear NO to Permanent European Debts!

Pandora's Box of Joint EU-Debts Must Not be Opened!

What we warned about early on and urgently in the context of the “one-time” borrowing of the EU to cope with the Corona pandemic (program Next Generation) is now set to become reality: In a letter to the EU Commission President, Ursula von der Leyen, the Social Democrats in the European Parliament (S&D) have asked here to make a “proposal for the introduction of a permanent fiscal capacity as a countercyclical stability function”.

In plain language, this means nothing less than to permanently introduce joint EU debts with the firm goal of compensating for “economic fluctuations in the EU countries” in the future. Pandora's box of joint EU debts is to be opened - if the Social Democrats in the European Parliament have their way. This will make our worst fears come true, namely the move away from the promise of a one-time exception for the fight against the Corona pandemic towards permanent EU debts.

“We at the Taxpayers Association of Europe reject this categorically and request of the European Commission President, von der Leyen, a resounding NO to this EU debt madness,” said TAE-President Rolf von Hohenhau.

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