Feb 10 β€’ 09:26 UTC πŸ‡¬πŸ‡· Greece Naftemporiki

The European Parliament votes for 90 billion in Ukraine, speeding up the process

The European Parliament is set to vote on a €90 billion loan to Ukraine, moving the decision forward in response to Ukraine's urgent financial needs.

The European Parliament plans to vote on Wednesday, February 11, on the significant €90 billion loan from the EU to Ukraine, a decision announced by the Parliament's President, Roberta Metsola. Originally scheduled for later in the month, the vote has been expedited due to an emerging consensus among major political groups within the Parliament, indicating a united front in support of Ukraine during its ongoing crisis with Russia.

Amid dwindling financial resources, Ukraine faces a critical need for these funds, which are becoming increasingly urgent as April approaches. The lack of financial liquidity not only jeopardizes basic economic stability but also threatens Ukraine's defense capabilities against continued Russian aggression. The discussions in Strasbourg preceding the vote indicate a strong commitment from the center-right European People's Party, center-left Socialists and Democrats, and the liberal Renew Europe party to support Ukraine during this precarious period.

The expedited voting process demonstrates a coordinated effort among European lawmakers to respond to Ukraine's financial demands swiftly. By agreeing to push forward the vote, these parties aim to enable the European Commission to raise funds through debt markets, backed by the EU’s long-term budget. This financial maneuvering is indicative of the EU's broader strategy to bolster Ukraine both economically and militarily, amidst significant geopolitical tensions.

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