Bloomberg: EU May Vote For 'reparation Loan' For Ukraine Without Belgium

Europe is ready to make that decision.

Calls are growing in Europe for the EU to approve a huge loan to Ukraine, at the expense of frozen Russian assets. In particular, Danish Prime Minister Mette Frederiksen said that she is ready to vote in favor of the loan plan without Belgium, "if necessary." This is according to Bloomberg.

She said this is because one member state of the 27-nation EU "should not be able to block what is right."

"With everything that is going on, Europe should be able to make the decisions necessary to protect our peoples. I would much more like us to find a solution in unity, but time is running out," Frederiksen, whose country holds the EU presidency, told reporters in Brussels.

At the same time, during a speech to the Belgian parliament today, December 18, the country's Prime Minister Bart De Wever emphasized that the asset plan could be a violation of international law and could weaken the euro on international markets.

He said Russia continues to claim the assets held at Euroclear, so at some point it may need to return that money.

Belgium, for its part, says it is worth considering other options, among them the possible use of common debt. But in private conversations, EU officials say that would require the unanimous agreement of all 27 EU countries, which is politically impossible.

German Chancellor Friedrich Merz said that using Russian assets is the only real way out.

"In my opinion, this is really the only option. At the end of the day, we are facing a choice: to use European debt or Russian assets for Ukraine. And my opinion is clear: we should use Russian assets!" he urged.

In a speech in Brussels on December 17, Austrian Prime Minister Christian Stocker assured that the summit would find a solution to Ukraine's financing. However, he cautioned that Belgium must also make the decision.

"It cannot and should not be made without Belgium. Any decision must include Belgium," the politician said.

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