Urmas Of Ranalletta: Ints Kalnins / Reuters
The Minister of foreign Affairs of Estonia Urmas Reinsalu said that the implementation of the plan to rescue the economy, which was presented by Germany and France, will increase the national debt of the Republic in half, according to RIA Novosti.
On the national TV channel, the foreign Minister explained that this initiative is rather scary, as there is no clarity with the distribution of money.
According to the proposal of the two largest economies of the EU, all members of the Association should transfer funds to the General Fund to address problems associated with the pandemic coronavirus. At the same who will be saved is unclear. That is, Estonia can seriously increase the problems in the economy, while it solved the problems of other countries.
“If we are talking about money, you have to be very rational. Always the question remains, who will benefit from it. To ask such a question is not a shame”, concluded Reinsalu. A day earlier against the German-French initiative with similar arguments were made by the Minister of Finance of Estonia Martin Helme.
The plan, approved by the Chancellor of Germany Angela Merkel and President of France Emmanuel Macron suggests the creation of a Fund of 500 billion euros. First and foremost, the investment must be directed to the issues of environment and development of digital technologies.
This idea was criticized by Austria, Denmark, the Netherlands and Sweden. They did not like the introduction of total debt and increasing the size of the European budget. Instead, the country proposed to create a special Fund from which the EU members will be able to obtain loans on favorable terms.
Video, photo All from Russia.