Spain proposes a massive EU loan to lower borrowing costs for member states

Spain proposes a massive 850 billion euro EU-wide loan to reduce borrowing costs for member states. The plan aims to save countries up to 25 billion euros by leveraging the European Commission's lower interest rates, strengthening national finances. This proposal, seen as a "German nightmare," contrasts with Germany's historical opposition to joint EU borrowing, though an exception was made during the COVID-19 pandemic.