Ukraine, EU: ‘We are looking for alternative solutions to ECB guarantees on assets’

Brussels, 2 December (LaPresse) – The ECB’s refusal to guarantee liquidity to repay Russian assets in the event that Member States are unable to disburse the money to Euroclear on time? “In light of this position taken by the ECB, we are discussing how to ensure that this liquidity can be secured. We are basically looking for alternative solutions, and this is part of all the work that is currently being done on the repair loan law.‘ This was stated by the European Commission’s chief spokesperson, Paula Pinho, in the daily press briefing. ’This is part of the discussions on the repair loan. We are in contact with Member States,‘ the spokesperson explained. ’We are also in contact with financial institutions, in particular the European Central Bank. We are also discussing with the European Central Bank what the feasible solutions are,‘ she continued. ’How to ensure the necessary liquidity is an absolutely essential aspect of the discussions, i.e. ensuring the necessary liquidity for any asset repayment obligations, in this case to the Russian Central Bank. This is therefore an important element of the repair loan. It is essential to ensure that the EU, its Member States and private entities can always meet their international obligations.”