What is causing Europe's economic slowdown? Should the EU expand common debt? And what happens if the EU fails to reach an agreement?
These questions spark this week’s debate between EU lawmakers Pasquale Tridico (The Left) and Markus Ferber (European People’s Party).
Both MEPs clash over whether common debt is the answer to Europe's stagnant economy and weakened competitiveness after a Spanish proposal for Brussels to borrow as much as €850 billion each year to fund growth has revived a longstanding debate in the EU.
While Tridico argues that expanding common debt is “a matter of a well-built economy”, Ferber warns that “the markets will not trust us with more borrowing”. In this context, both MEPs weigh in on the fierce global competition facing Europe and the damaging impact on the bloc’s industries and economy.
What would be the economic cost for Europe if EU countries fail to find common ground?
Listen to this edition of The Ring, brought to you from the European Parliament studios in Brussels.
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