- cross-posted to:
- ukraine@sopuli.xyz
- cross-posted to:
- ukraine@sopuli.xyz
The European Union is preparing an alternative plan to provide Ukraine with EUR 20 billion (22.09 billion USD) in financial support to circumvent the veto of Hungarian Prime Minister Viktor Orbán, reported the Financial Times.
The proposed mechanism could be used if Orbán’s veto cannot be overcome at the planned summit on Feb. 1., said the report.
. . .
The approach is like the EC’s COVID-19 response, when 100 billion EUR was provided to EU countries in 2020.
This option does not require guarantees from all 27 EU member states, allowing the inclusion of countries with the highest credit ratings as principal participants.
The headline makes it sound like a bad idea i.e. abusing a COVID specific political mechanism to pass non-COVID related spending to “cheat” the system. Those types of bureaucratic maneuvers may start out with noble goals, but eventually their future abuses will outweigh the early benefits.
However, from reading the article, it sounds like it a was pre-existing mechanism that was simply USED recently for COVID, which is fantastic. Both for Ukraine, and for the long-term political viability of the EU’s financial aid mechanisms.
Very important detail, the headline is then straight up false.