00:00Euroclear, the main custodian of immobilized Russian assets, said the European Union's
00:07proposal for a reparations loan for Ukraine is fragile and could trigger an exodus of foreign
00:13investors away from the Eurozone. The warning came as German Chancellor Friedrich Merz met
00:20with Belgian Prime Minister Bart De Weyver and European Commission President Ursula von der
00:24Leyen in Brussels in a bid to unblock the loan. Euroclear is based in Brussels, making Belgium
00:32the cardinal vote in the debate on funding Ukraine ahead of a crucial summit on December 18th.
00:40Euroclear and Belgium have opposed the plan to channel the immobilized Russian assets
00:44into a zero-interest line of credit for Ukraine over fears of retaliation from Russia.
00:49De Weyver has repeatedly invoked the risks that Euroclear faces and has said he will not be
00:57pressured into accepting the plan, which has put him in a minority around the European Council of
01:02Leaders, most of whom are favorable to the reparations loan.
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