On September 20, 2024, it was
announced that the E.U. would “raise a €35 billion loan to support the Ukrainian
economy and military.”[1]
At a press conference next to Ukraine’s president Zelenskyy, the E.U.’s
president said, “Russia keeps targeting your civilian energy infrastructure in
a blatant and vicious way to try to plunge your country in the dark.”[2]
So the loan stood to impact the Ukrainian people directly and significantly. It
would be a shame if the principle of unanimity in the European Council would
stand in the way of the Ukrainian people being warm during the upcoming winter.
This is a very tangible way for people to grasp just how real the costs are of state
governments having vetoes over a significant number of E.U. competencies (i.e.,
enumerated powers). “The European Union is here to help you in this challenge
to keep the lights on, to keep your people warm as winter is just around the
corner, and to keep your economy going as you fight for survival,” Von der
Leyen said at the news conference.[3]
Hungary’s Viktor Orbán stood in the way, however, to securing the collateral
for a long enough period to render the loan (an any from the U.S. based on the collateral)
secure.
The full essay is at "E.U. Loan to Ukraine."
1. Jorge Liboreiro, “EU
to Raise €35 Billion Loan for Ukraine Using Russia’s Frozen Assets, Von der
Leyen Says,” Euronews.com, September 20, 2024.
2. Ibid.
3. Ibid.