Mário Centeno, former governor of the Bank of Portugal, defended that European cohesion funds will be reduced, but considered that this reduction should not be treated as a serious problem. Centeno made these statements in the context of a debate about the future budget of the European Union.
The former governor argued that the EU will necessarily have to demand a reinforced budget to face new priorities. Among the areas he considered priorities for this budget reinforcement are defense and digitalization.
Centeno also defended the need to create common European debt as an instrument to finance these needs. This position arises within the framework of broader discussions on European financing reform.
In a speech that combined economics with culture, Centeno used an adaptation of the famous Elvis Presley song to call for cooperation between Member States, suggesting that it is not possible to maintain mental suspicions if the Union wants to advance in a fair manner.
