BERLIN: A decision by European leaders to issue joint debt to finance coronavirus aid for weaker member states should remain an exemption and not serve as a blueprint for future budget challenges, Bundesbank President Jens Weidmann said on Sunday .
"It's important that the EU has proven its capability to act in the crisis," Weidmann told Funke media group in an interview, adding that showing solidarity also in financial terms was the right thing to do in the current crisis. "Control mechanisms are needed to ensure that funds are used sensibly and efficiently," Weidmann said."Generally, I think joint debt for extensive transfers is questionable. At the very least, the package should not serve as a springboard for large-scale EU debt for regular household financing," he said.
"The US loosened some of its measures early on and is now tightening them up again in some places. This stop-and-go is certainly difficult for the economy," Weidmann said.
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