No new European debt to fund competitiveness drive - German fin min

German Finance Minister Christian Lindner sees the U.S. Inflation Reduction Act as an invitation for Europe to increase its competitiveness, but he warned that taking on new common European debt would pose a threat to that very goal.

"If 'sovereignty fund' means new common European debt, then I think this would not be an improvement of our competitiveness or stability. It would be a threat for competitiveness and stability," Lindner told reporters in Brussels on Monday.