Lagarde's Confidence in EU's Aid Plan for Ukraine

Christine Lagarde, President of the European Central Bank, expressed her confidence in EU leaders finding a way to support Ukraine through a reparations loan plan, despite potential challenges and the importance of adhering to international legal norms. The plan, linked to Russia’s frozen assets, is still under discussion.

Christine Lagarde, the President of the European Central Bank, conveyed her assurance in the ability of European Union leaders to finalize a support scheme for Ukraine. Speaking at a news conference, Lagarde emphasized the critical nature of the matter and expressed her belief in a forthcoming solution.

A draft document, reviewed by Reuters, outlines the EU's call for rapid development of reparations loans backed by Russian frozen assets. Despite potential legal hurdles, Lagarde reiterated her confidence in an agreement that would not violate international norms.

Lagarde, who has been vocal about the ECB's standpoint for 18 months, explained that while the central bank's role is to ensure compliance with EU treaties and financial stability, the final decision rests with political entities.

(With inputs from agencies.)