Calls for joint debt issuance at the European Union level have intensified recently, with French President Emmanuel Macron reviving the idea ahead of a Feb. 12 leaders’ summit to discuss the bloc’s flagging competitiveness. While Merz rejected the push at the time, Klingbeil noted that the debate is shifting, as Deutsche Bank AG Chief Executive Officer Christian Sewing and Bundesbank President Joachim Nagel have signaled a new openness to joint debt.