The European Union's plan to issue a reparations loan for Ukraine suffered a fresh setback on Friday after Euroclear, the main custodian of the immobilised Russian assets, said the proposal is "very fragile", too unpredictable and could trigger an exodus of foreign investors away from the eurozone.
The warning comes as German Chancellor Friedrich Merz meets with Belgian Prime Minister Bart De Wever and European Commission President Ursula von der Leyen in Brussels in a bid to unblock the loan before a crucial summit on 18 December.
