US EditionEU to Issue Joint Debt for Ukraine After No Deal on Reparations Loan
16 Articles
16 Articles
European Union leaders failed to agree on an unprecedented repair loan for Ukraine, so they decided to issue joint debt to finance a 90 billion euro loan for the country. EU leaders will raise 90 billion euros of joint debt to finance Ukraine for the next two years, after they were blocked in discussions on using frozen Russian assets to create a repair loan, reports euronews. Bulgaria, the Czech Republic and Slovakia will not participate in thi…
Polish Prime Minister Tusk: money today or blood tomorrow. The Egyptian leader tries to put Germany in the corner. The compromise in the night: joint EU loan to address Ukraine's most urgent financial needs and forward with technical work on the repair loan, based on Russian assets
According to the Ukrainian president, Russia will use all means to prevent the EU decision on a loan using Russian assets. This plan was called dead by Orbán.
EU to issue joint debt for Ukraine after no deal on reparations loan
The reparations loan for Ukraine is fiercely resisted by Belgium, the prime custodian of the Russian assets needed to fund it, while the back-up option of joint debt requires unanimity – and Hungary has already said no.
After 16 hours of meeting, EU leaders noted that the use of Russia's real estate assets did not pass, and advanced with plan B. Union guaranteeing EUR 90 billion in 2026-27.
Countries were forced to agree on a contingency plan based on joint EU debt.
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