Far from the prices, the Brussels veteran enthusiastically embraced the European Commission’s efforts to mobilize more European defense funds, faced with what he called an “existential threat” of Russia.
He supported a commission proposal to borrow 150 billion euros to lend to the EU governments as part of a reset plan. This would be equivalent to reconditioning the obligations of different countries in the form of a “European European active”, structured so as to limit the overall risk.
“We have to find a combination of national and European solutions,” said Rehn. He applauded as “extremely important” the recent announcement of Germany – a country which has room for more public debts – that it raised its restrictions on national borrowing and opened the way to an increase in defense expenses.
And although he did not stop advocating the pure and simple crisis of the 200 billion euros in the Russian reserves frozen in European depositions, he asked that the funds be used for “significant” use.
Until now, they are only used as guaranteed for 50 billion euros in loans from G7 countries in Ukraine.
“I am aware of the legal challenges,” said Rehn, “but it was discussed in the context of the G7 and if there is a will, there is a means.”
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