With one week to go before the extraordinary EU summit on Thursday 9 and Friday 10 February, a consensus among the EU27 leaders to launch financial instruments involving common debt as part of the European response to the US IRA appears to be out of reach due to the frontal opposition of the ‘fiscally frugal’ countries.
According to a draft of the European Council’s conclusions dated Thursday 2 February, a copy of which was given to EUROPE, the reference to a request by the EU27 to...