EU D-Day for the Ukraine loan.
In a new piece, Stephen and I analyse the legal risks (minimal), how liqiduity risks are covered and the guarantees would work, and how to plug holes on member-state defections.
In short: it works and there is no alternative (TINA).
www.cer.eu/insights/ukr...
cer.eu
The Ukraine Reparations Loan: How to fix Europe's financial plumbing
As US support for Ukraine vanishes, Europe must overcome Belgian opposition and improvise fiscally to provide Kyiv with €210 billion.
