Canada seeking to join EU’s 90 billion euro Ukraine loan

Filed 2h ago · Via NV · The Buffoon Desk

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Fox Tale Waltz Part 1 Instrumental

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: Chuck Kennedy, White House photographer · Public domain · via Wikimedia Commons

Canada is negotiating to join the European Union's 90 billion euro loan program for Ukraine, according to the Financial Times, with Prime Minister Mark Carney seeking to finalize Canada's contribution before an EU summit in Montreal this October. Britain is currently the only non-EU country in the arrangement.

Canada has already sent about $4.7 billion in military aid to Ukraine and signed a 100-year partnership agreement with Kyiv this month. The EU's loan structure lets Ukraine defer repayment until Russia pays reparations, while frozen Russian assets stay locked up in the meantime — an arrangement European lawmakers say still leaves a shortfall exceeding 200 billion euros they'd like unblocked.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

Carney's pitch is basically an insurance policy sold on the theory that the other driver will eventually admit fault and pay for the fender bender himself. Maybe Russia writes that check one day, but nobody's holding their breath, and everybody's holding the loan anyway. Building alliances is fine work; betting the ledger on an apology from Moscow is a bolder wager than most banks would take.

Source: Read the original at NV → Scored: Fox Tale Waltz Part 1 Instrumental · Kevin MacLeod · CC BY 4.0

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