EU To Fund War with Russia's Money, Not Their Own
EU leaders will convene to authorize the use of frozen Russian central bank assets to finance Ukraine's war effort, as NPR details . This bold strategy of fighting wars with other people's money conveniently avoids difficult conversations about reallocating European military budgets or, heaven forbid, increasing domestic contributions that might impact public approval. Remember when national
sovereignty meant paying for your own conflicts? It appears the EU has discovered a novel form of fiscal responsibility: confiscation. While member states like Germany and France could, in theory, ramp up their own defense spending (Germany's 2024 budget projects €52 billion for defense, according to Statista, yet Ukraine funding remains a 'challenge'), it's far easier to greenlight the
appropriation of assets. One might wonder if this sets a delightful precedent for future global conflicts – whose sovereign wealth fund is next on the chopping block?