Brussels explores Draghi option of extending up to $385 billion in EU debt, FT reports

European Union (EU) officials are examining ways to roll over hundreds of billions of euros of COVID-19 era bonds in order to prevent the bloc’s common budget being overwhelmed by repayment costs, the Financial Times reported on Thursday.

Mario Draghi urges reform, massive investment to revive lagging EU economy

This move which is backed as an option by former European Central Bank chief Mario Draghi would extend as much as 350 billion euros ($385.49 billion) of unprecedented pandemic-era EU borrowing, the newspaper reported, citing people familiar with the matter.