Europe Must Set New Priorities
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.
Germany Rejects Increased Borrowing
“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.”
Political Conflict and Resolution Over Energy Supplies
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’.
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
More from Wake Up Singapore:
If you have a story or a tip-off, email admin@wakeup.sg or get in touch via Whatsapp at 8882 5913.
Interested in advertising on our media channels? Reach out to us at admin@wakeup.sg!
Since you have made it to the end of the article, follow Wake Up Singapore on Telegram and X!
Wake Up Singapore is a volunteer-run site that covers alternative views in Singapore. If you want to volunteer with us, sign up here!
