German finance minister: EU debt not the answer to energy crisis

German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.

“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances of states,” Lindner said.

According to Lindner, Germany is ready to discuss measures that could contain gas and power prices in the European Union.

“We need to tackle this problem at its roots. So, I am open to taking joint steps on the international gas markets and to reform the design of our power markets so that prices for consumers are no longer determined by the price of gas,” Lindner said.