
EU needs to solve problems without joint debt, German minister says
Klingbeil said the EU had joint debt in the last few years, but that was in a crisis situation during the COVID pandemic, he said in an interview on the sidelines of a G20 meeting in Durban, South Africa.
"Overall, we need to resolve the finances of the EU differently than through a policy of joint debt," he said.
"Fortunately, we are not in such a crisis right now."
Current geopolitical challenges will be discussed at this week's meeting of G20 finance chiefs which takes place against the backdrop of Donald Trump's tariff threats.
U.S. Treasury Secretary Scott Bessent is not attending the summit, and many European finance ministers are also absent.
"I would have wished that more finance ministers were here, but I believe that those who are here will make good discussions," Klingbeil said. "There will be good partnerships, and that will certainly be an incentive for others to come next time."
The 30% tariff on European goods threatened by Trump would, if implemented, be a game-changer for Europe, wiping out whole chunks of transatlantic commerce and forcing a rethink of its export-led economic model.
"This has been dragging on for a very long time," Klingbeil told Reuters. "We really want to have a solution by August 1."
Last year the U.S. accounted for a fifth of all EU exports - its largest partner.
If a deal is not reached by August 1, Brussels is discussing countermeasures, including the so-called anti-coercion instrument, which allows the bloc to retaliate against countries that put pressure on EU members to change economic policies.
Klingbeil said now the talks are focusing on finding a joint solution with Washington.
"That's the message we are sending," the finance minister said. "But rest assured, if it doesn't work out, then we are prepared, we will react united and decisively, and then there will be a European response."
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily Mail
13 minutes ago
- Daily Mail
Now that even South Park is mocking Trump over Epstein, he knows he's facing a scandal he can't control: ANDREW NEIL
Donald Trump touched down in Scotland last night, the controversy swirling around the so-called ' Jeffrey Epstein files' in such hot pursuit that it threatens to disturb what is essentially a five-day golfing holiday and plunge him into something of a pickle. The President's MAGA base of true believers refuses to accept the official reasons why the files on the late notorious paedophile can't be made public.


Glasgow Times
43 minutes ago
- Glasgow Times
It's great to be here, I love standing on the soil of Scotland, Trump says
Ian Murray told the PA news agency what the US President's first words were after disembarking from Air Force One in Prestwick. The UK Government minister was the first person to greet the president in Scotland as he begins his visit to the country. Speaking after meeting the American leader, Mr Murray told PA: 'The president came off the flight, and I said, 'Mr president, welcome to Scotland – the home country of your dear mother', and he said, 'It's great to be here, I always love standing on the soil of Scotland'. 'I said, 'I hope you're looking forward to a bit of downtime with some golf this weekend', and he said, 'Yes'. And I said, 'Well, we've whipped up a bit of a wind for you to make it a bit more competitive', and he went, 'I'm looking forward to it'.' Mr Murray said Mr Trump was given a warm reception as he got off his presidential plane. Scottish Secretary Ian Murray said Donald Trump received a warm welcome (Ben Whitley/PA) Hundreds gathered on the Mound overlooking Prestwick Airport for the president's arrival. A Trump flag was flown while a few spectators wore 'Make America Great Again' hats, although many of those attending were locals and aviation enthusiasts, including some who had travelled from England. Mr Murray said: 'Spotters hills, as it's called, where all the plane spotters come to Prestwick, was absolutely full. 'You could see that from the tarmac and as Air Force One came in, people were snapping away on their photographs. 'To see all that happening is quite a spectacle in itself. 'It's really good to have that kind of focus on Scotland.' Hundreds gathered at Prestwick Airport as the president landed (Jane Barlow/PA) Mr Trump will meet Prime Minister Sir Keir Starmer during his trip to discuss the UK-US trade deal as Britain hopes to be spared from the president's tariff regime. The Scottish Secretary said: 'Really, the purpose of this weekend, the purpose of greeting the president off the plane, the purpose of the Prime Minister's relationship with the president is to build that close relationship, to make sure that that old alliance is nurtured, and to do that for the benefit of the national interest, which is about jobs and growth here in the UK, and particularly Scotland.' Mr Trump will meet Scottish First Minister John Swinney during his trip as he opens a new golf course in Aberdeenshire. Before flying to Prestwick, Mr Trump said in Washington that he was 'looking forward' to meeting Mr Swinney, describing him as a 'good man' – the same phrase he used for the Prime Minister after landing in Scotland. US President Donald Trump was taken to Turnberry via motorcade (Robert Perry/PA) Asked about the president's relationship with the UK, Mr Murray said: 'The Prime Minister has taken a very pragmatic approach to the relationship with the president of the United States, because it's in our national interest to do so, whether it be on defence, security, trade, cultural, historic ties. 'It's a historic alliance, and that alliance has to be nurtured and continue through to the future, because it's quite clear that our relationship with United States is good for jobs and growth here in Scotland and across the UK. 'The Prime Minister knows that, and knows that working very closely with the US is in our national interest.' Asked about protests, which are expected across the country, Mr Murray said people had a right to demonstrate, adding: 'Freedom of speech, freedom of assembly and freedom to protest is a key cornerstone of both countries, America and the UK, and the right to be able to protest if they so wish to so.'

Western Telegraph
an hour ago
- Western Telegraph
Starmer rejects calls for Palestinian statehood as Trump flies to the UK
Some 221 MPs have signed a letter urging the British Government to recognise the state of Palestine at a meeting of the UN next week. The UK would follow in the footsteps of France if it did, though Mr Trump claimed French President Emmanuel Macron's announcement was 'not going to change anything' ahead of flying to the UK on Friday. The appalling scenes in Gaza are unrelenting. The UK will pull every lever we have to get food and lifesaving support to Palestinians, and we will evacuate children who need urgent medical assistance. This humanitarian catastrophe must end. — Keir Starmer (@Keir_Starmer) July 25, 2025 Sarah Champion, a senior Labour MP who co-ordinated the cross-party letter, said recognition 'would send a powerful symbolic message that we support the rights of the Palestinian people'. While the PM said he was 'unequivocal' about wanting to see a Palestinian state, he insisted this needed to be part of a 'wider plan which ultimately results in a two-state solution and lasting security for Palestinians and Israelis'. The UK and its allies must work together to broker a peace, he added, likening the effort to the coalition of the willing to support Ukraine. Sir Keir is expected to meet Mr Trump on Monday, as the US president stays in Scotland ahead of a full state visit later this year. President Donald Trump speaks to the media after he arrived at Prestwick Airport in Scotland (Jacquelyn Martin/AP) On Friday evening, amid mounting global anger over the starving population in Gaza, the Prime Minister also suggested the UK will play a role in dropping aid into Gaza by air. He welcomed that Israel said it would allow aid to be delivered by parachute to alleviate starvation in Gaza. The Prime Minister said the step had 'come far too late', but he insisted the UK will 'do everything we can to get aid in via this route'. I know the British people are sickened by what is happening. The images of starvation and desperation are utterly horrifying Sir Keir Starmer Britain is already working alongside Jordan to get aid onto planes, the PM signalled, also adding that children from Gaza in need of specialist medical care will be evacuated to the UK for treatment. In a video statement released on Friday, Sir Keir made plain his desire for a ceasefire. He said: 'I know the British people are sickened by what is happening. The images of starvation and desperation are utterly horrifying. 'The denial of aid to children and babies is completely unjustifiable, just as the continued captivity of hostages is completely unjustifiable.' An Israeli soldier stands beside humanitarian aid packages (AP) Meanwhile, in a statement released alongside German Chancellor Friedrich Merz and France's Mr Macron, the Prime Minister urged Israel to stop restricting the flow of aid into Gaza. A call between the three leaders was expected on Friday, but has been postponed until the weekend. US-led peace talks in Qatar were cut short on Thursday, with Washington's special envoy Steve Witkoff accusing Hamas of a 'lack of desire to reach a ceasefire'. The deal under discussion is expected to include a 60-day ceasefire, and aid supplies would be ramped up as negotiations on a lasting truce took place.