Germany's Merz: I worry about rising debt levels worldwide
BERLIN, May 9 (Reuters) - German Chancellor Friedrich Merz said one reason for his reluctance to countenance joint EU debt issuance to finance military spending was that he was concerned about rising state indebtedness not only in Europe, but worldwide.
While the EU could raise money by issuing common debt, this should only ever happen in exceptional circumstances, he said, adding that Europe's defence needs could also be addressed by improving efficiency rather than spending more.
"I am indeed somewhat worried about the constantly rising national debt around the world - not just in Europe, but also, for example, in the United States," he said.
"And I do wonder how long it will be possible not only to refinance the debt itself but also to finance the interest payments. We cannot keep taking on debt indefinitely," he added.
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