Status: 05/20/2022 02:21
European Commission President von der Leyen wants to link Ukraine’s reconstruction to the reforms necessary for EU membership. Businessman Truger defends joint EU debt for reconstruction.
European Commission President Ursula von der Leyen has proposed linking future aid to Ukraine’s reconstruction to reforms, given the country’s desire to join the EU.
“We will have to help finance Ukraine’s reconstruction anyway,” von der Leyen said of the ZDF’s ‘Maybrit Illner’ program. So, in his opinion, it made sense to say: “Yes to investments, but immediately with the necessary resources reforms, for example against corruption or, for example, to establish the rule of law. Ukraine wants that too, I discussed it again this morning with President (Volodymyr) Zelenskyy.”
According to von der Leyen, the European Union is also examining ways to use frozen assets of Russian oligarchs to finance post-war reconstruction in Ukraine. In this way, Russia can contribute to post-war reconstruction, said the President of the Commission.
Lots of motivation to participate
Ukraine wants to join the European Union at any cost, so there is a lot of motivation for the next accession process. Ukraine has already applied for EU membership and would like to join as soon as possible. Last but not least, French President Emmanuel Macron and Chancellor Olaf Scholz (SPD) have slowed down. EU membership usually takes several years from the date of application.
Von der Leyen stressed that the course of the procedure ultimately depends on how Ukraine develops. “It depends on Ukraine itself how it manages this reconstruction at the end of this war, which we are going to help with, but how it actually implements the reforms, how it gets rid of the oligarchs, how it does the necessary economic reforms.”
Wirtschaftsweiser: EU common debts for reconstruction
Meanwhile, economist Achim Truger has spoken out in favor of financing Ukraine’s reconstruction through joint European Union debt. A similar model to the Corona reconstruction fund might also make sense for the financial support planned for Ukraine, Truger told newspapers from the Funke media group.
The member of the Advisory Board for the assessment of global economic development considers such an instrument to stabilize the economy economically justifiable. “While sums of 500 billion euros seem gigantic, compared to the EU’s economic output it is only a good 3%,” said the economist.
Joint EU loans are also less risky than uncoordinated domestic loans, “also because they build confidence in the EU and the joint capacity to act”.
Overview of the War in Ukraine topic