{"id":459468,"date":"2026-07-09T17:37:48","date_gmt":"2026-07-09T15:37:48","guid":{"rendered":"https:\/\/www.eunews.it\/2026\/07\/09\/la-spagna-evoca-debito-comune-per-la-competitivita-leurogruppo-dice-no\/"},"modified":"2026-07-09T18:09:22","modified_gmt":"2026-07-09T16:09:22","slug":"spain-calls-for-joint-debt-to-boost-competitiveness-eurogroup-says-no","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2026\/07\/09\/spain-calls-for-joint-debt-to-boost-competitiveness-eurogroup-says-no\/","title":{"rendered":"Spain calls for joint debt to boost competitiveness. Eurogroup says “no”"},"content":{"rendered":"

Brussels \u2013 A new mechanism for shared debt of \u20ac850 billion a year<\/strong>, to support investment and revitalise the EU economy on a grand scale. Spain is reshaping the European political debate with a plan aimed at strengthening the single market, \u201ccontributing to Enrico Letta\u2019s agenda<\/a> in terms of reducing barriers\u201d to growth and competitiveness. Carlos Cuerpo<\/strong>, the Spanish Finance Minister, arrives in Brussels for the Eurogroup meeting with a plan that directly involves Italy, France, Germany, and the Netherlands, given that, as he explains, \u201cto achieve sufficient scale\u201d for the plan\u2019s success, it is necessary for \u201cthe major issuers\u201d in the eurozone to participate. <\/p>\n

Under the Spanish proposal, the aim is to achieve savings of up to \u20ac25 billion a year by funding EU integration and growth through bonds issued by the Commission, which would be guaranteed by the EU budget as a last resort, resulting in the centralisation of shared debt that national governments would be required to honour in the first instance. \u201cIt is not debt mutualisation; it is greater efficiency in debt issuance,\u201d insists Cuerpo. Underpinning this plan, worth \u20ac850 billion euros a year, remains \u201cvoluntary participation<\/strong>\u201d, for a coalition of the willing that, however, does not exist. <\/p>\n

Germany has always been opposed to the idea of Eurobonds, and Berlin has already said “nein” even when it comes to defence<\/a>, a central theme of the new twelve-point political agenda. The Dutch Finance Minister, Eelco Heinen<\/strong>, nips any discussion on the subject in the bud: \u201cThere\u2019s a debate about Eurobonds every day. It probably won\u2019t be the last, but the answer is always the same: no!<\/strong>\u201d <\/p>\n

Finland, too, strongly rejects Spain\u2019s proposal: \u201cNo to new shared debt,\u201d declares Helsinki\u2019s Finance Minister, Riikka Purra<\/strong>. Shared debt, she insists, \u201cis not the solution, and it is not an option for Finland<\/strong>.\u201d Meanwhile, Simon Harris<\/strong>, Ireland\u2019s Finance Minister, points out that the the rotating presidency held by his country<\/a> \u201caims to reach an agreement on the multiannual financial framework\u201d (MFF 2028\u20132034), which will require a significant amount of work. A veiled way of saying that Ireland does not intend to push the issue. Not least because, as the President of the Eurogroup, Kyriakos Pierrakakis, admits, \u201cthere is currently no consensus on this<\/strong>.\u201d <\/p>\n

While waiting and seeking an agreement on new joint debt programmes\u2014which is proving an uphill struggle\u2014the agenda remains the same for everyone: \u201cReforms, reforms, reforms\u201d, emphasises the President of the Eurogroup. Given an uncertain and unpredictable international context, he explains, \u201cwe cannot make any predictions at this stage, and so we must keep our own house in order.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Madrid has put forward a proposal for a mechanism worth 850 billion euros a year to complete the single market and revitalise the eurozone. The Netherlands and Finland are opposed, while Ireland is holding back. Pierrakakis: \u201cThere is no consensus.\u201d<\/p>\n","protected":false},"author":494,"featured_media":459458,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705],"tags":[29150,25994,25828,25882,33066,26870],"class_list":["post-459468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-debt-community-en","tag-eurogroup-en","tag-eurozone-en","tag-investimenti-en","tag-kyriakos-pierrakakis","tag-spain-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/459468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=459468"}],"version-history":[{"count":1,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/459468\/revisions"}],"predecessor-version":[{"id":459469,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/459468\/revisions\/459469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/459458"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=459468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=459468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=459468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}