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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
by AureliusMA 9d 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.
- kilroy123 9d agoThey're pushing hard to do Euro bonds precisely for things like this.
- disgruntledphd2 9d ago> 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).
- saelthavron 9d agoWhat 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/budget/how-eu-budget-financed_en https://european-union.europa.eu/institutions-law-budget/bud...