Clare Daly: EU Loans and Shock Therapy Threaten Ukraine
Clare Daly criticises EU financial support for Ukraine as loan-based aid that imposes neoliberal conditions and risks indebting the country. She argues the aid sustains the war, undermines democracy, and will leave ordinary people to pay the cost.
EU loans and shock therapy
She says the billions from the EU are not free money but loans carrying neoliberal strings. Citing The Economist, she warns Ukraine is marked for "a nightmare round of shock therapy" including sell-offs of public land, deregulation of labour and sales of public assets.
Democratic backsliding
She says that despite conditions about democracy and rule of law, the Ukrainian government has banned most opposition parties, shuttered the media, printed kill lists of dissidents, and attacked trade unions and workers' rights. Yet, she notes, the billions keep flowing.
Corruption and accountability
She refers to findings from the court of auditors that the country has been accused of grand corruption, implying EU finance is being sent despite serious governance concerns.
War economics and policy consequences
She argues EU policy appears designed to prevent peace and keep the war going at all costs, with ordinary people bearing the burden. She calls the conflict economically devastating, calling war "a racket" and warning of heavy consequences for Ukraine.
Warning for Ukraine's future
She warns that between Russian tanks and European banks there will be little left of Ukraine when the conflict is over, and that the long-term political and economic costs will fall on the population.
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President, Billions of EU assistants going to Ukraine are not free, they're loans, which Ukraine will default on. And they come with neoliberal strings attached. If you listen to The Economist, Ukraine is marked for a nightmare round of shock therapy. A sell-off of public land, deregulation of labour, sale of public assets, on it goes. The country's future is being sold to finance a proxy war that's tearing it apart. And of course the loans have preconditions that Ukraine must uphold democracy and rule of law. But since the tap was turned on, Zelensky has banned most opposition parties, shuttered the media, printed kill lists of dissidents, attacked trade unions and workers' rights. But the billions keep flowing. This is a country our court of auditors have said was a country accused of grand corruption. And on it goes while the EU policy seems designed to prevent peace and keep the war going at all costs as long as ordinary people pay. So between Russian tanks and European banks, there'll be little left of Ukraine when this is over. Don't forget, war is a racket and there's going to be hell to pay for this one.
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