CDA Shifts Position, Backs Joint EU Debt as Debate Intensifies
THE HAGUE – In a surprising move, the Christian Democratic Appeal (CDA) is no longer opposing Eurobonds, a joint debt instrument for European Union member states, a departure that has caught the VVD party off guard. The shift comes amid broader discussions about European solidarity and financial responsibility, notably regarding defense spending and asylum policy.
Currently, no European countries jointly guarantee each other’s debt in a extensive system like Eurobonds. Though, the concept has long been debated, with proposals surfacing for specific initiatives like joint borrowing for defense projects. The Netherlands has historically been hesitant, fearing that financially stronger nations would bear a disproportionate burden due to higher interest rates stemming from weaker economies.
Outgoing Minister of Finance eelco Heinen (VVD) remains firmly opposed,stating,”I think it is really naive to use that as a starting point for a discussion. Because what you then see is that countries immediately start to sit back.”
CDA negotiator Pieter Bontenbal counters this view, arguing that resisting such mechanisms is “actually naive.” He advocates for strong conditions attached to any Eurobond issuance, clarifying they “should not be about anything and everything,” but believes they are justified for collective security projects. “Now the need really arises,” Bontenbal stated, urging parties to be “future-oriented.”
The debate also extends to the EU’s new asylum policy. While a migration pact has been agreed upon to ensure fairer distribution of asylum seekers, the outgoing Schoof cabinet intends to “buy out” its share of responsibility. Bontenbal criticized this approach as “selfish,” warning that widespread opt-outs would render the pact “an impossible situation” and undermine European solidarity.
