EU leaders will find a solution to support Ukraine: Lagarde on reparations loan
Kyiv • UNN
European Central Bank President Christine Lagarde expressed confidence that EU leaders will agree on a way to support Ukraine. She expects a solution to be found, despite possible difficulties, as the issue is too important.
European Central Bank President Christine Lagarde said on Thursday that she was "fully confident" that European Union leaders would agree on a way to support Ukraine, given the vital importance of the issue, UNN reports with reference to Reuters.
Details
Asked during a press conference whether she believed EU leaders would be able to agree on a reparations loan plan for Ukraine, Lagarde replied: "The importance of the issue, given what is at stake, I am fully confident that they (EU leaders) will find a solution."
According to a draft document seen by Reuters, which could still change, the EU will ask the bloc's institutions to urgently adopt instruments to create a reparations loan backed by residual cash linked to frozen Russian assets.
Lagarde reiterated that the EU plan should not violate international legal norms protecting sovereign assets, but expects a solution to be found.
"It may be the usual European way, you know, going around in circles, taking a long time and generating a lot of speculation as to whether it will work... But I am confident that we will find a solution... Because it is too important," Lagarde said.
Addendum
While Lagarde has often expressed the ECB's view on the matter over the past 18 months, she said that the decision on how to proceed was ultimately political.
"Our job" as a central bank, she added, "is to determine whether any choice made by (EU) leaders will be consistent with the (EU) Treaty, respect the international rule of law, and not harm financial stability."