Comment by AureliusMA
7 hours ago
Europe has no budget of their own like the USA and China do, because there is no debt nor taxation at the European level. That’s the reason for the complication you are noticing.
7 hours ago
Europe has no budget of their own like the USA and China do, because there is no debt nor taxation at the European level. That’s the reason for the complication you are noticing.
What do you mean by "Europe has no budget of their own like the USA and China do"? The EU was specifically mentioned and the EU does have a budget, debt, and income:
https://european-union.europa.eu/institutions-law-budget/bud...
They're pushing hard to do Euro bonds precisely for things like this.
> They're pushing hard to do Euro bonds precisely for things like this.
I really, really wish that this was true, but basically no-one is pushing for euro bonds (even though they'd be a great idea).