The European Commission has given members a choice between the economic and legal consequences of funding Kiev, the newspaper has reported
EU member states will face ballooning deficits and debt unless they agree to use frozen Russian assets as collateral to fund Ukraine, the European Commission has warned in a document seen by the Financial Times.
The paper was circulated to EU capitals following last month’s failure to reach a consensus on a ‘reparations loan’ of around €140 billion ($160 billion), the FT reported on Friday.
Without tapping the frozen Russian central bank reserves, the EU would need to either authorize joint borrowing or…
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