EU's Gentiloni: Discussion of new EU joint borrowing unlikely to take place now

Eren Sengezer FXStreet

The European Union's (EU) investment in defence will require a more supportive framework of fiscal rules and potentially new tools at the European level, European Economic Commissioner Paolo Gentiloni said on Tuesday, per Reuters.

"The discussion of a new EU joint borrowing is unlikely to take place now," Gentiloni added. "The discussion will take place in a few weeks when we have a clearer view of the economic impact of this crisis."

Market reaction

These comments don't seem to be having a noticeable impact on market mood. As of writing, the Euro Stoxx 600 Index was up 0.5% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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