iiinova — where your digital self keeps evolving

Replies

Sander Tordoir @sandertordoir.bsky.social · 18/12/2025

Ukraine needs €135bn in funding for 2026–27 alone. Common borrowing and use of the ESM are blocked by unanimity. Bilateral loans hit national debt. The Commission, with Germany's strong support, did its homework. The reparations loan isn’t just clever finance—it’s the only option left. 3/

1260 0

Sander Tordoir @sandertordoir.bsky.social · 18/12/2025

The Commission proposes a €210bn zero-coupon “reparations loan” for Ukraine: banks holding frozen Russian assets would lend to the Commission, which on-lends to Kyiv. It’s limited-recourse—repaid only if Russia pays reparations, allowing assets to return to the CBR. 4/

1231 0

Sander Tordoir @sandertordoir.bsky.social · 18/12/2025

Of course, most frozen Russian assets (€193bn) sit at Euroclear in Belgium. Belgium fears sanctions could collapse—triggering early repayment Euroclear may not afford; that Russia could sue Belgium and recover assets; or that a war settlement may not require full reparations. 5/

2230 0