A Framework for Reparations-Backed Lending, Applied to Russia’s Frozen Assets

In December 2025, the EU considered using €210 billion in frozen Russian assets to finance Ukraine but stepped back from the plan. Not because the legal case collapsed, but because nobody had priced what the instrument would actually cost and who would carry that cost if it went wrong. 
That question has not gone away. It has been deferred to a debate several Member States are already working to reopen.

Migration Alone Won’t Solve Europe’s Labour Problem

Migration has long been framed as the solution to Europe’s labour shortages and demographic challenge. Yet why do millions of jobs across the EU remain unfilled even as many working-age migrants remain underemployed or excluded from the labour market? Europe’s labour problem is becoming less about labour supply and more about its ability to absorb and integrate workers effectively.

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