La Germania avverte che gli Stati UE che bloccano il prestito di asset russi per l’Ucraina potrebbero dover affrontare declassamenti del credito

Germany warned that EU countries refusing to back a proposed “reparations loan” for Ukraine, financed through frozen Russian frozen assets, could face higher borrowing costs and credit downgrades, as divisions deepen ahead of a key EU summit, Euractiv reported on December 15.

Speaking in Brussels, Germany’s Europe minister Günther Krichbaum said rejecting the $246 billion scheme would likely have “negative consequences” for national credit ratings, arguing that alternative financing options would be more expensive and could push interest rates higher across the bloc. Berlin has emerged as the strongest backer of the plan, with Chancellor Friedrich Merz opposing joint EU borrowing as budgets tighten.

The European Commission has floated joint debt issuance and bilateral grants as fallback options, but German officials warn these would fuel a cycle of rising interest rates and deeper budget pressure for member states, accordiing to Euractiv.

Belgium remains the most vocal opponent. Prime Minister Bart De Wever has cautioned that using the assets, most of which are held at Brussels-based Euroclear, could be perceived by investors as de facto confiscation, increasing financial risk and destabilising EU markets. Euroclear has echoed those concerns.