Beni russi in Belgio: il capo di Euroclear dice che non escluderà di fare causa all’UE se i fondi verranno sequestrati
https://www.brusselstimes.com/1845494/frozen-russian-assets-its-time-to-stop-targeting-euroclear-and-belgium-says-euroclear-boss
di EdgarNeverPoo
7 commenti
Russian asset. Jesus. That’s too easy of a call. Of course she has to do something in their own interest. If Euroclear has to give in into this, they basically undermining their whole reason of existance. People/nations trust Euroclear to stock their assets in confidence … If she throws that out of the window, well…
Won’t rule out? That implies there is a chance they won’t sue. They will absolutely do so.
“Suing the EU”? But isn’t Belgium who would seize the funds in any case? So then Euroclear wouldn’t sue Belgium instead of the EU?
I honestly think that BDW is right in this case.
She has to do this, to declare force majeure. Else Euroclear is liable. But either way. If this happens, Euroclear will go bankrupt. As all investors will take everything out of Euroclear instantly. Similar to a run on the bank. There will be a run on Euroclear.
And that leads to a colossal and catastrophic financial crisis in the Eurozone, and the final and definite end of the EU having any influence whatsoever internationally.
There are for example already indications that China would take all its investment assets out of Euroclear, out of the EU. Every other country will follow.
Because if their investments in the EU are not safe from political pleasure adventures like the ones Ursula von der Leyen wants to play: then thrust in the EU will drop to zero.
It is very simple: if the EU wants to help Ukraine, it needs to make a loan at the ECB like it did so during the banking crisis and during the COVID-19 crisis. If that ain’t possible, then the EU doesn’t want to help Ukraine because it can’t.
Throwing Euroclear (and consequently Belgium too) under the bus, is not the solution.
Besides. Even more money will have to be created afterwards to:
1. Safe Euroclear from collapse
2. Safe Belgium from collapse
3. Safe the financial markets in the EU from collapse
4. Pay for legal costs that will inevitably come with endless litigation
5. Pay for the interest on the money after many many years
Finally. If we create the loan at the ECB then:
1. We wont have aforementioned problems 1,2,3, 4 and 5
2. We will still have leverage during future peace negotiations
This proposal is populism because people want revenge against Russia. This doesn’t make it a good idea. At all.
Besides, this proposal undermines the unity of the European Union:
1. Belgians, who’s country will go bankrupt, will become anti-EU
2. It’s the principle of everybody against one
1. Instead of standing strong together
3. This will make other EU members do the exact same thing against each other, in future
lets seize german found in reparation of WW1 and WW2.
and lets seize holland found in reparation of 1833 war. we still didn’t recover Luxembourg.
and lets seize France in reparation of François 1er invasion. our castles are still all in ruin.
maybe they will begin to understand…
Clearly the legal basis for this dossier is sketchy… create a real basis to seize these assets like fining russia for occupying ukrainian land or unauthorised entries into ukrainian airspace by drones. Ofcourse they won’t pay then if the court approves the seizing of these assets that will pass. See precedent of khadafi’s assets vs Prince Laurent. So ukrainian govt stating fine of 1000€ per sqkm occupied or x, y for a rocket/drone illegally entering ukraine airspace. Then use this fine as a basis to have the court seize the assets. That way Russia decides on how much of their assets they want to keep spending on this war
Just sell euroclear to germany and let them take the hit