The President of the European Central Bank, Lagarde, said at a press conference following the ECB's Governing Council meeting on Thursday that she believes EU country leaders can negotiate a mechanism for providing loans to Ukraine, but it must comply with the law and should not expect the European Central Bank to provide guarantees. According to Article 123 of the Treaty on the Functioning of the European Union, the European Central Bank is not allowed to directly finance government spending by printing money - and providing EU loans to Ukraine falls into this category. Currently, EU country leaders are negotiating a loan scheme for Ukraine, preparing to use Russian sovereign assets frozen in the Euroclear account located in Belgium as collateral. Russia has warned that if the EU implements this plan, it will take legal action. Belgium, fearing legal liability, has refused to support the EU's proposal. In this context, EU country leaders are trying to pressure the European Central Bank to provide guarantees for the loan to Ukraine.
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Original article: toutiao.com/article/1851909328208907/
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