VERSAILLES. France, (Reuters) – The French President Emmanuel Macron claimed that the war in Ukraine requires joint EU investments, which could lead to a new round of debt. But he stated that he preferred to speak about the objectives first and not what it takes to get there.

France and Italy are seeking new EU-issued debts that can be jointly issued to cushion Russian energy imports and reduce the negative effects of the sanctions against Moscow. They also want more autonomy from international food and microchip supplier countries.

Germany, the Netherlands, and other countries strongly disagree with such an action, arguing that too much money is still available in the EU’s 800 billion Euro pandemic recovery fund, which is currently jointly borrowed.

Macron answered the question about whether EU leaders will launch another EU recovery fund. Macron stated that he would rather discuss the goals than the means to achieve them. Macron said, “That has always been how I do things.” He said it helps to lift taboos, and blocks,” before speaking out ahead of an EU summit held at Versailles Palace near Paris.

Macron needed to convince Angela Merkel, the former German Chancellor and “Frugals”, a group of economically conservative EU nations in order to establish the EU’s first recovery fund and unprecedented joint debt package.

We will require a strategy to make joint European investments. That’s what we started with the recovery plan for the summer 2020. Macron stated that the plan is still functional in some parts.

“But, depending on what goals we have, we will need to decide if we are going to turn it around or make new decisions. He said that he didn’t wish to “preempt” it.

Macron stated that the EU’s leaders face a historical moment, which will require historic decisions.

“Europe has made significant changes in response to the pandemic. He said that it would change more quickly in wartime.

Macron stated also that the European Commission will receive a mandate from leaders to develop means for protecting households against rising prices.