EU Debt to Hit €1 Trillion by 2027, Auditors Warn

The European Court of Auditors warns EU debt will rise from €740 billion to €1 trillion by 2027, driven by Ukraine support, higher interest rates, defense spending, and the COVID recovery fund. Over €112 billion in recovery payments remain outstanding. This signals growing fiscal strain on the EU's joint budget, potentially pressuring EU creditworthiness and raising borrowing costs.