ECB Slams European Commission Proposal To Guarantee €140 Billion Loan To Ukraine

Following earlier news that according to Russia talks with the US about a Ukraine peace plan were “constructive”, but “no compromise” had been reached on territorial issues, Rabobank's Michael Every said earlier that he sees "serious concerns this ends up in an ugly --and expensive-- deal which weakens Europe." Pressure is also increasing for NATO to spend more, faster: but with whose money, he asked rhetorically. And most notably, "the European Commission is making a late offer to win Belgian backing for its Russian asset loan scheme, which the ECB is refusing to back - critics argue it’s a de facto asset confiscation that could damage Europe’s reputation as well as ensuring there’s no peace deal. It is, in effect, ‘victor’s terms’ when Europe has won nothing."

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