#talks #Russian #assets #fund #reparations #loan #Ukraine #enter #final #stages #ahead #crunch #meeting #Europe #live #Europe
Key events
Who stands where on EU reparations loan for Ukraine?
Jakub Krupa
If you want to test various scenarios ahead of tomorrow’s debate on Russian frozen assets, you can use this handy calculator to see what is needed to get the proposal passed under the so-called qualified majority vote, or QMV (expect to hear a lot about it in the next 48 hours).
As we know, the opposition is led by Belgium and its outspoken prime minister Bart de Wever, with Bulgaria, Czech Republic, and Malta also against. Italy has some doubts too (at least for now?), and Hungary, traditionally, is against anything that would help Ukraine.
Slovakia appears to be leaning towards against too, with prime minister Robert Fico saying this morning that he won’t support anything that prolongs the war and would increase military spending.
Last week Fico said “I will not support anything, even if we have to sit in Brussels until the New Year, which would lead to support for Ukraine’s military expenditures.”
Don’t give them ideas, Robert.
As it stands, that’s not enough to block the proposal (unless France switches sides, essentially) – but that’s assuming the supporters will really push it to the vote. While technically possible, it feels deeply implausible politically.
Let’s see if we get any further political signals from the capitals during the day.
Morning opening:
Jakub Krupa
EU leaders are entering final stages of negotiations ahead of this week’s crunch European Council meeting in Brussels, at which they will have to decide the critical decision on whether to use frozen Russian assets to fund a reparations loan for Ukraine.
Some 24 hours before they start their talks on Thursday, there is no agreement in sight, as Belgium continues to oppose the European Commission’s proposals as it worries about possible legal challenges from Russia. More worryingly for the countries supporting the loan, more countries seem to be having some doubts, including Italy.
Technically, the European Council could push ahead with a qualified majority vote, even if Belgium and some countries oppose the plan. But politically, the optics of doing that and acting against the will of the most invested member state’s will would be pretty tricky. Either way, it could very easily end up in mess.
The European Commission president, Ursula von der Leyen, has just opened a debate on the summit in the European Parliament, saying “there is no more important act of European defence than supporting Ukraine’s defence,” adding that “the next days will be a crucial step for securing this.”
She outlined both options given to the EU leaders ahead of tomorrow’s summit – the loan or new joint borrowing – but stressed:
“We will have to decide which way we want to take, which route we want to take. But one is one thing is very, very clear. We have to take the decision to fund Ukraine for the next two years in this European Council.”
Prepare for a long Thursday night, everyone.
More broadly, von der Leyen told EU lawmakers that “Europe must be responsible for its own security.”
She added: “This is no longer an option. It is a must.”
Let’s see what they the leaders will do this week, then.
I will bring you all the key updates throughout the day.
It’s Wednesday, 17 December 2025, it’s Jakub Krupa here, and this is Europe Live.
Good morning.
Recent Comments