German Finance Minister Christian Lindner does not approve of the intention of the European Commission to finance assistance to Ukraine at the expense of the common European debt.
Germany is slowing down the provision of a €9 billion aid package to Ukraine, which was decided at the EU summit at the end of June. According to the Corriere della Sera newspaper on Sunday, citing its sources in Brussels and Kyiv, German Finance Minister Christian Lindner does not approve of the European Commission’s intention to finance aid to Ukraine from the common European debt, as was already the case during the pandemic.
At the moment, only the first tranche of €1 billion has been approved in Berlin, which should be received by the end of July. According to Kyiv, the country needs $5 billion a month. According to Corriere della Sera, Ukraine may default in September, when the next foreign debt repayment period comes.
The European Commission proposed a €9 billion aid package to Ukraine in the spring, then it was approved by the leaders of the EU member states. The assistance package involved a loan to Kyiv for 25 years with an interest-free return from the EC funds through the Eurobond mechanism (that is, through debt guarantees from member countries), the publication explains.
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