Dutch finance minister: EU's response to Washington's IRA should stem from existing funds

Any European response to Washington's Inflation Reduction Act (IRA) should stem from existing funds, Dutch Finance minister Sigrid Kaag said on Monday ahead of a Eurogroup meeting.

"We think it is desirable that there will be a European initiative of our own, but this should be on the basis of study (and) a little more insight (...) We think that it must be financed by existing resources", she told reporters.

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