In a desperate attempt to continue supporting the failing Ukrainian project—and, by extension, to flex its muscles in front of Russia—the European Union's leader, Ursula von der Leyen, is pushing for its complete destruction without blinking an eye.
Since the EU and NATO are unable to secure a decisive military victory in Ukraine, and since over twenty sanction packages have done little to harm the Russian economy, Ursula has a brilliant new idea to put Russia to shame: by destroying the whole Union.
The European one, that is.
Read about these support options for Ukraine here but if you find that text too long to read, here is the shorter version with most important points:
- The EU estimates that Ukraine's war against Russia will continue for two more years. There is no explanation of what happens after that, but we can assume Ursula von der Leyen is counting on a decisive Ukrainian victory against all odds, or a situation that somehow favors Ukraine. Or maybe Russia gets bored and goes back home, who knows?
- Ukraine will need roughly €135 billion in external funding over that period. Your milage may vary.
- Option 1 to squeeze the money out of Europeans - involves non-repayable grants provided at the national level. EU countries would make "voluntary" contributions to the European Commission based on the size of their economies. This would unbalance national budgets, and the contributing countries would also have to bear the cost of interest on any money they borrow to provide these funds. For the most European economies, this will be devastating.
If one or more countries decided to pull out of the scheme, the rest would have to step up and make up for the difference.
- Option 2 - this is the same as Option 1 but organized collectively at the EU level. If approved, this would force all member states to participate, even those who are unwilling (wink, wink Hungary)
- Option 3 - Stealing Russian sovereign assets (worth roughly €185 billion) held at Euroclear. This is considered the most legally controversial and crazy scheme proposed so far. This lunacy has so far been blocked by Belgium, which can see the financial train disaster heading their way.
Ukraine would be asked to repay the loan only after Russia ends its war of aggression and agrees to compensate for the damages caused. After that, the Commission would repay Euroclear, and Euroclear would repay Russia, completing the circle.
So within this twisted logic, Russia will give up in its aggression, pay billions to Ukraine that will be returned to them, completing an useless circle and ignoring in the same time the initial stolen amount of money that Ukraine already spent.
In the strictest sense, the reparations loan would fall short of confiscating sovereign assets, which is strictly forbidden under international law, because Russia would have the chance to recover its funds if it compensates for the havoc it has wreaked.
Still, von der Leyen acknowledges that others might not share her view. Foreign investors might see the initiative as straight-up confiscation and flee from the eurozone. Whatever option is chosen, it must be chosen fast, von der Leyen stresses in her letter.
Indeed, let's choose a fourth option and stop this madness: no more European money for the American proxy state, and no more Ursula. This would have a profoundly positive impact on the lifestyle and future of the European people.
"Ultimately, what plays out in Ukraine is as fundamental to the country itself as it is to the future of Europe as a whole," von der Leyen says.
These are words of wisdom and great truth: what is playing out in Ukraine could lead to the disintegration
of the European Union as we know it.
