Luxembourg, the smallest NATO member, has opted for the debt instrument to meet the bloc’s defense spending requirements
Luxembourg has issued its first-ever war bond, becoming the first EU country to issue such a debt security since World War Two.
The issuance of the bond was announced on Thursday by Finance Minister Gilles Roth, who said the initiative was designed to “make citizens’ savings more available for economic development.” According to the minister, there is some €33.4 billion ($38.7 billion) accumulated in private accounts in Luxembourg, and the government is looking forward to tapping into the funds.
“We are the first European…
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