Unlocking the Own Resources Debate – Debt and Competitiveness

On 4 June 2025, Rebecca Christie delivered a presentation at a workshop on EU budget own resources, “Unlocking the Own Resources Debate,” organised by the Committee on Budgets of the European Parliament in Brussels. She discussed the EU’s evolution of joint borrowing, the benefits of a safe asset for European finance, the role that debt can play in the broader budget, and the ways in which a bigger stock of EU bonds can improve the international role of the euro. The presentation builds on and incorporates related work by Bruegel colleagues. She argues that building on the EU’s progress, rather than starting a new special-purpose vehicle or separate borrowing line, is the best way to access capital markets for new collective funding needs such as defense.

Find Rebecca's presentation slides here.