Money in the Wind: €1.8 Billion Loan to Ukraine May Not Be Paid Back

The money that will be given by European countries to Ukraine is very likely to get lost, as the country faces a severe economic crisis and will not be able to pay it back, according to the German politician, Bernd Lucke.

Leader of the party "Alternative for Germany" (AfD), Bernd Lucke, claims that Ukraine will not be able to pay back the loan recently approved by the European Parliament, as quoted by the online resource Finanzen.net.

"I do not mind that Europe helps Ukraine in [the] difficult situation. But in this case, the assistance should be honestly called a gift and […] spent for humanitarian purposes," the politician claimed, adding that Ukraine — like Greece – will not be able to pay the money back.

Earlier this week, the European Parliament announced its support for the European Commission's proposal to grant Ukraine a financial assistance package of €1.8 billion. Ukraine is also expected to get an additional $17.5 billion from the IMF.

"The EU's €1.8 billion is only a drop in the bucket. The probability that this money disappears forever is high," Lucke said.

The politician also brought attention to the fact that the credit program is not related to concrete economic reforms in Ukraine.  Kiev announced the need for reforms many times, but words have still not been put into action.