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UKRAINE: UK PM To Host German Chancellor Amid Military Aid Row In Berlin

UKRAINE
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletCEEMEABulletUkraineEmerging Market News

UK PM Sir Keir Starmer will host German Chancellor Olaf Scholz at the prime minister's country retreat, Chequers, on Sunday 2 Feb. The PM's spox said the two were set to discuss, among other topics the war in Ukraine. The UK has recently signed a '100 year' partnership treaty with Ukraine following a visit to Kyiv and committed a total GBP4.5B in military aid for 2025. Reuters reports that the budget committee of the German Bundestag has called for an additional EUR3B in military aid for Ukraine this year. 

  • The report claims the call came with the backing of the main opposition centre-right Christian Democratic Union (CDU) and pro-business liberal Free Democrats (FDP), while the parties in gov't - Scholz's centre-left Social Democrats (SPD) and environmentalist Greens - abstained. The committee needs approval from the finance minster in order to make a final decision.
  • The report claims the CDU and FDP say there are sufficient funds in the budget to accept the request, but Scholz - who is in favour of more aid - says "this could only be financed with an exception to the debt brake to allow for additional borrowing."
  • It should be noted that the meeting comes just weeks ahead of the German federal election due to take place 23 Feb. Scholz's SPD is on course to fall from first to third place according to opinion polling, behind the CDU and far-right Alternative for Germany. With a change in coalition and leadership likely, it remains to be seen what impact this will have on Berlin's support for Ukraine. 
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UK PM Sir Keir Starmer will host German Chancellor Olaf Scholz at the prime minister's country retreat, Chequers, on Sunday 2 Feb. The PM's spox said the two were set to discuss, among other topics the war in Ukraine. The UK has recently signed a '100 year' partnership treaty with Ukraine following a visit to Kyiv and committed a total GBP4.5B in military aid for 2025. Reuters reports that the budget committee of the German Bundestag has called for an additional EUR3B in military aid for Ukraine this year. 

  • The report claims the call came with the backing of the main opposition centre-right Christian Democratic Union (CDU) and pro-business liberal Free Democrats (FDP), while the parties in gov't - Scholz's centre-left Social Democrats (SPD) and environmentalist Greens - abstained. The committee needs approval from the finance minster in order to make a final decision.
  • The report claims the CDU and FDP say there are sufficient funds in the budget to accept the request, but Scholz - who is in favour of more aid - says "this could only be financed with an exception to the debt brake to allow for additional borrowing."
  • It should be noted that the meeting comes just weeks ahead of the German federal election due to take place 23 Feb. Scholz's SPD is on course to fall from first to third place according to opinion polling, behind the CDU and far-right Alternative for Germany. With a change in coalition and leadership likely, it remains to be seen what impact this will have on Berlin's support for Ukraine.