US EditionEU plans to raise €90 billion in joint debt for Ukraine — here's how
6 Articles
6 Articles
On Friday evening, Federal Chancellor Friedrich Merz announced the decision of 24 EU states, Ukraine by taking up debt of 90 billion ... The post After he could not prevail: Merz calls debt solution for Ukraine "better" as his own proposal appeared first on Apollo News.
EU plans to raise €90 billion in joint debt for Ukraine — here's how
The EU will jointly borrow €90 billion to support Ukraine's fight against Russia. The funds will be gradually disbursed and subject to conditions. Hungary, Slovakia and the Czech Republic will opt out of the scheme.
According to Olivier Blanchard, the joint debt decision was easy, but helping Ukraine in the future will become more difficult. That is why EU citizens must also feel the war in their wallets.
The joint debt approved by the European Council to support Ukraine is now causing a stir in the Grand Committee of the Parliament. Yesterday, EU leaders reached a decision on a 90 billion euro loan to Ukraine. Finland wanted funds frozen from Russia to be used to support Ukraine, but now a joint debt was decided.
EU leaders decided yesterday that Ukraine, defending itself against Russian aggression, will receive an interest-free loan of €90 billion over the next two years. The burden of obtaining this money will rest with EU countries, and Kyiv will only begin repaying the loan once it receives reparations from Russia.
The European Union has responded decisively to the corruption scandal involving Volodymyr Zelensky's closest associates. Taking on a €90 billion EU debt to support the government in Kyiv will mean that the countries will collectively repay approximately €3 billion in interest each year. Hungary, the Czech Republic, and Slovakia have refused to participate in the process of further indebtedness. After hours of negotiations, the leaders of the EU'…
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