Financial dilemma: Italy, France and Slovakia ask for easing of Ukraine bailout plan

Kaya Kallas/Photo: Depositphotos

Europe is once again seeking a balance between support for Ukraine and financial responsibilities. Italy, France and Slovakia have called for a softening of the initiative of EU High Representative for Foreign Affairs and Security Policy Kaja Kallas to increase military aid to Kyiv. According to Politico, the three countries insist that participation in the funding should be entirely voluntary.

The latest version of the Callas plan does contain the phrase “on a voluntary basis”, which at first glance seems superfluous. However, this point has become fundamental for Italy, France and Slovakia, which are not ready to support an automatic funding mechanism.

€40 billion of discord

The key issue is the €40 billion in aid that the EU is supposed to provide to Ukraine this year. Diplomats from several countries have expressed dissatisfaction with the fact that Kallas presented this project without prior consultation and without coordination with the European Commission.

In addition, Hungary had already vetoed the previous version of the proposal, forcing the EU to look for new approaches. But even after the changes, Slovakia openly stated during a meeting of EU foreign ministers that it was not interested in the initiative.

Will it be possible to form a “coalition of the willing”?

Kai Kallas’s project envisages the creation of a “coalition of the willing“, which will include not only EU countries but also non-EU states. But whether Europe will have enough of them is still an open question.

Financial discussions in Brussels have always been difficult, but the situation around aid to Ukraine is particularly tense. Will diplomats be able to find a compromise to ensure that Kyiv receives the support it needs? The coming weeks will provide the answer.

NEWS