Major WW3 warning as Europe face harrowing 'money today or blood tomorrow' choice
Europe has been urged to "rise to this occasion".
A European leader has warned Europe it is facing the harrowing prospect of war. As EU leaders gathered in Brussels for a major summit on supporting the Ukrainian efforts to fight the unlawful Russian invasion, Polish Prime Minister Donald Tusk said the continent faces the choice between "money today or blood tomorrow".
He added: "And I am not talking about Ukraine only, I am talking about Europe. This is our decision to make and only ours. I think all European leaders have to finally rise to this occasion." EU leaders have vowed to find the money to cover Ukraine’s financing needs at a summit in Brussels on Thursday,
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The EU estimates that war-torn Ukraine will require an additional €135billion (£118billion) over the next two years to remain financially stable, with funding pressures expected to emerge as early as April.
To help address the shortfall, the European Commission has proposed a plan to draw on around €210billion (£184bn) in Russian central bank assets that are currently frozen within the bloc.
However, Hungary’s Viktor Orbán, has told reporters in Brussels that the idea of using frozen Russian assets was “stupid.”
He added that the EU must stay out of the war and work towards peace. EU officials said ahead of Thursday’s Brussels summit that they were optimistic about reaching an agreement, even if negotiations had to continue overnight.
While the summit is due to conclude on Friday, it could be extended if necessary.
Ukrainian President Volodymyr Zelensky said he would also attend the meeting in person, adding pressure to Belgium.
German chancellor Friedrich Merz said the assets plan was crucial to increase pressure on Vladimir Putin and send “a clear signal to Russia”.
Meanwhile, The European Commission president, Ursula von der Leyen said: “We have one ultimate goal in this European Council, and that is peace for Ukraine, peace through strength, and for that, Ukraine needs to have a secure funding for the next two years, 2026 and 2027.”
