Belgium Seeks Guarantees from EU Capitals for Loan Linked to Ukraine
Belgium is urging all EU capitals to provide guarantees for a loan related to Ukraine, should the Kremlin’s legal representatives succeed in court or if the conflict concludes, which could prompt an immediate recall, reports 24brussels.
Italy is particularly concerned and is asking for written assurances from Eurostat that these guarantees will not adversely affect its financial stability. Economy Commissioner Valdis Dombrovskis informed Italian Minister Giancarlo Giorgetti that Eurostat’s response would depend on the EU executive establishing a formal proposal for the loan, as noted by two diplomats.
A senior Commission official stated earlier this week that these guarantees would probably be classified as contingent liabilities, meaning they would only affect a country’s debt metrics if activated.
The issue of debt has become increasingly significant among EU member states, but it remains particularly pressing for Italy, where the debt-to-GDP ratio surged to 137.9 percent in the first quarter of 2025. Only Greece surpasses Italy in this regard, with a staggering debt level of 152.5 percent of GDP.
