Article by Viory
Merz Calls for Spending Restraint in Europe
German Chancellor Friedrich Merz suggested Europe needed to rein in the spending – just a day after it signed off on the latest 90 billion euro loan for Ukraine – as he arrived for the informal leaders summit in Nicosia on Friday.
“Europe must make do with the money we have. And that means we must also set new priorities,” he said.
“We must also reduce the expenditures of the European budget elsewhere. From a German perspective, increased debt is not an option. And what is also not an option are European bonds on the capital market. This is not a position that Germany shares. The colleagues know that. Many share the same opinion with me. But we will have to discuss this intensively today.”
EU Approves Major 90 Billion Euro Ukraine Loan
It came as the bloc finally managed to pass a 90 billion euro loan for Ukraine. Outgoing Hungarian PM Viktor Orban blocked the cash following the row over the Druzhba pipeline – with Hungary and Slovakia claiming Ukraine was halting supplies for political reasons. Kiev alleged that it was damaged in a ‘Russian strike’.
Political Tensions and Pipeline Dispute Continue
However, Orban was defeated this month by Peter Magyar – in an election marred by allegations of EU and Ukrainian interference, and even an apparent death threat for Orban from Zelensky himself.
This week, Zelensky announced that the pipeline had been somehow ‘fixed’ and oil would now start flowing, with the EU signing off the loan within days.
Article by Viory
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