If some countries opt out, the package will not be structured under the "EU umbrella" but rather as a "coalition of the willing", with a joint fund allowing member states to contribute voluntarily through financial or military assistance.
EU to propose major military aid package for Ukraine on Monday | Ukrainska Pravda
- Ukraine can make weaponry "faster and cheaper" than elsewhere in Europe, Denmark's prime minister said.
- "We have a problem, friends, if a country at war can produce faster than the rest of us," Mette Frederiksen said at the Munich Security Conference.
- Europe's defense spending has soared in recent years, but problems remain.
Ukraine Makes Weapons 'Faster and Cheaper' Than Rest of Europe: Danish PM - Business Insider
Ironically, in this farcical negotiation, Ukraine is not the biggest loser. Kyiv saw US military aid dwindle, and has ramped up its own weapons production while turning to Europe for additional support. Ukraine today is in a far better position than it was three years ago. It will fight on – with or without Washington.
The real loser is the US. Trump is trading Washington's global standing for the amusement of Putin and his cronies and the bewilderment of US allies. The world is watching as the US president parrots the rhetoric of one of his country's biggest adversaries. The long-term damage to the US and international security may be greater than he understands.
Trump says he will end the war in Ukraine – but how, and who will benefit? Our panel responds
I and others have long argued that the $330bn in Russian central bank assets immobilized in Western jurisdictions should be transferred to Ukraine, to fund arms purchases and for recovery and reconstruction. The funds, in cash, are readily available in Western banking systems and could be available to Ukraine at the push of a button. Morally, it is unarguable that the aggressor, Russia, should pay. Indeed, why should Western taxpayers fork out to cover the cost of Putin's war?
Unfortunately, the ECB and its allies at some European Treasuries have doggedly blocked the move over the past three years. They have constantly made excuses as to why this should not happen. Pivotal to this is the argument that seizure of the $200bn or more in Europe would damage confidence in the euro as a reserve currency. There is zero evidence to support this. There was barely any movement of assets following immobilization in 2022, which made absolutely clear that the assets of aggressors would be put beyond their reach.
Humble the Bankers and Give Russia’s Cash to Ukraine - CEPA
The first is to exclude investment in defense from the bloc’s fiscal rules, which broadly limit government borrowing to 3% of GDP.
A second option, then, is for European governments to borrow collectively to finance a one-off investment in defense capacity, as French President Emmanuel Macron has suggested.
Finally, the third option is to expand the scope of European Investment Bank lending. While the EIB can already finance dual-use (civilian/military) projects, such as those producing drones and satellites, 19 EU governments recently suggested that it should also be permitted to finance wholly military spending, such as investments in tank and ammunition manufacturing.
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