About the author: Olena Havrylchyk is a Professor of Economics at the University Paris 1 Panthéon-Sorbonne. The proposal to use immobilized Russian assets to finance a "reparation loan" for Ukraine will again be discussed at the next European Council meeting on Dec. 18 and 19. The purpose of this loan is to advance Russia’s future reparations in order to cover Ukraine’s reconstruction and recovery needs, which are estimated at 506 billion euros (nearly $589 billion). At the previous summit, B
  • DarkCloud@lemmy.world
    211·
    2 days ago

    It’s 506 billionaire euros:

    At the previous summit, Belgium blocked the decision; Euroclear Holding, which holds the immobilized assets on its balance sheet, is headquartered there. In an interview with RTBF Valerie Urbain, Euroclear’s сhief executive officer, voiced her opposition to the “reparation loan” mechanism and said that she was ready to challenge this decision in court.

    This is why Governments need to take the fight against Neo-Liberalism and Capitalism seriously. Nationalise this company, and throw the CEO in jail for a bit.

  • gravitas_deficiency@sh.itjust.worksEnglish
    201·
    2 days ago

    Tangentially: Belgium and Euroclear may find themselves subjected to rather obvious consequences if they persist in this - specifically, the rest of Europe may just decide take their money elsewhere and stop doing business with them altogether. And if that causes Euroclear to founder as a business… well, that’s no great loss.

  • Ben Matthews@sopuli.xyzEnglish
    51·
    1 day ago

    Maybe Euroclear is not the only reason - rather a convenient excuse for De Wever to waste time - as his seat of power is Antwerp with a huge chemical industry partly fueled by Russian gas, and his party is right-wing nationalist and maybe more sympathetic to the Putin-Trump vision than they dare to admit (as not in line with sentiment in the country as a whole).

  • Ininewcrow@piefed.caEnglish
    61·
    2 days ago

    Another example of how governments are more willing to place at risk or even danger the lives of their citizens and their soldiers … rather than affect the bottom line of a company or corporation.