Estonian finance minister opposes easing EU budget rules for energy projects

Estonian Finance Minister Jürgen Ligi (Reform Party) spoke out against relaxing EU budget rules to fund energy projects during a meeting of EU finance ministers (ECOFIN) in Luxembourg.

According to Ligi, Europe faces both security threats and risks of deteriorating public finances, so investments in defense should remain the top priority. He warned that weakening fiscal requirements could slow the growth of defense spending and negatively impact budget discipline.

During discussions on financial supervision reform and capital market development, Estonia supported an approach where EU-level oversight applies only to the largest cross-border financial institutions, while smaller companies remain under the control of national regulators.

Ligi also attended the annual meeting of the European Investment Bank (EIB). He urged the bank to more actively support defense projects, including infrastructure and technology development, and to maintain a high level of aid to Ukraine, which he said urgently needs support.