Photo: European Union /Claudio Centonze
As its first attempt to test financial markets, the European Commission on Tuesday announced it had raised EUR 20 billion in 10-year bonds successfully. The EU wants to finance the EU27’s COVID-19 crisis recovery.
Speaking to the press, EC president Ursula von der Leyen said that the inaugural transaction of the NextGeneration EU program is the largest ever institutional bond issuance in Europe and will be spent on member states’ national recovery plans. “Europe is attractive, and by the end of this year we expect to have issued around EUR 100 billion in bonds and bills,” she explained.
According to the Commission, the bonds issued have been priced very attractively and the EU will pay less than 0.1% interest on them. EC budget commissioner Johannes Hahn reported that the bond issuance had attracted investors from across Europe and beyond, including central banks and pension funds. The EU hopes to raise about EUR 800 billion by the end of 2026.
Source: AP
No candidate received a majority of votes in the first round of the Presidential elections…
Hungary will focus on key issues for central Europe during its upcoming EU presidency, Hungarian…
US nuclear firm Westinghouse Electric Company has signed memorandums of understanding (MOUs) with 17 Bulgarian…
By 2030 Artificial Intelligence could be contributing as much as 11.5%, or USD 700bn (EUR…
Lithuania had the lowest annual inflation rate of 0.4% in the EU in March 2024,…
Lithuania will hold a constitutional referendum on whether its citizens can hold dual and multiple…