The European Union will loan €40 billion to Ukraine by the end of the year, according to a new plan. They say that this will happen “regardless of U.S. participation.”
What does this mean? It means that even if Donald Trump wins the U.S. presidency and stops aid to Ukraine, the E.U. will try to keep the war going. Only Hungary’s President Viktor Orbán says that he’d like to wait until after the U.S. election to commit this money.
Europe’s economy is terrible but EU leaders have done nothing to help the European people. The focus of fiscal policy has been funding foreign wars. It’s the same story as U.S. fiscal policy. This week President Biden asked Congress to give Ukraine another $6 billion.
And loans? How the heck do they expect Ukraine to ever pay back €40 billion in loans? Ukraine faces a $38 billion financing gap in 2025, according to Kyiv and the International Monetary Fund. The IMF warned Ukraine to stop its war on its own people in 2015 because it was so expensive. Ten years later, nothing has changed. Why the hell would anyone loan anything to Ukraine?
