Finnish presidential candidate asks EU investment bank to provide arms funding to Ukraine

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good morning. Here’s the scoop: The head of Europe’s biggest business lobby says red tape is hampering the EU’s post-pandemic recovery funds, making access ‘very difficult’ and resulting in only 30 per cent of the funding being available. he warned. has been paid so far.

Today, our Nordic correspondent hears from the leading candidates vying for the Finnish presidency, and our Dutch and Balkan correspondent explains why the EU delegation is visiting Bosnia.

Race to the Finland Line

Finland will vote for a new president this week, and some of the leading candidates are coming up with novel ways to try to help Ukraine. write Richard Milne.

Background: The first round of voting for the president, who traditionally leads Finland’s foreign and security policy, will take place on Sunday. The second round will probably take place on February 11th.

The leading candidate, former chancellor Alex Stubb, told the FT in an interview that the European Investment Bank should amend its rules to allow arms investments.

Stubbe, who was EIB’s vice-president, has given new director-general Nadia Calvinho support for Europe’s defense industry as the continent looks to arm both Ukraine and itself in the face of Russian aggression. I urged him to do so.

“The European Investment Bank should change its rules to allow investment and financing in the defense industry. This is an important countermeasure against European hard power,” Stubbe said.

The EIB is currently prohibited from investing in the sex industry, gambling, defense, and in particular dual-use items such as drones.

Stubb is not the only candidate campaigning for a ticket to Ukraine.

In a separate interview, Olli Rehn, former EU commissioner and head of the Central Bank of Finland, told the FT that the European Stability Mechanism and its 500 billion euro lending capacity could be used to finance Kiev.

He envisions his “Plan B” being activated if EU member states fail to prevent Hungary from blocking financial aid to Ukraine.

But Lane has struggled to gain traction. A poll published yesterday by the Helsingin Sanomat newspaper showed Mr Stubb in the lead with 22%, followed by Pekka Haavisto, who was until recently foreign minister, with 20%.

Jussi Halaaho, former leader of Finland’s populist party, came in third with 18%. Polls predicted Mr. Stubb would win both in the second round.

Haavisto told the FT that “I don’t see much political difference” between the leading candidates. He highlighted his four years in power and leading Finland to NATO membership, saying it would be a matter of experience.

Chart of the Day: Beware of the Gaps

Leaving the EU’s single market would mean tougher regulations for companies trying to sell in both the UK and the EU, incurring huge costs. Martin Wolff argues that Brexit is staged politics, full of sound and fury without any sensible meaning.

check-in

A month after EU leaders opened the door to accession talks with Bosnia and Herzegovina, the troika is on a visit to clarify the reforms needed before the troubled nation can move forward. write Andy Bounds and Marton Dunay.

Background: Under strong pressure from neighboring countries, the European Council Available in December To begin accession negotiations with Bosnia and Herzegovina if certain conditions are met.

Today, European Commission President Ursula von der Leyen visited Sarajevo with the Prime Ministers of Croatia and the Netherlands to reinforce this message.

Diplomats say this is an interesting combination. Croatia’s Andrej Plenković is one of the main supporters of Bosnia’s accession. Meanwhile, the Netherlands’ Mark Rutte is among the most skeptical, as Bosnia has hardly completed the necessary reforms.

But the Netherlands is still grappling with the guilt of the 1995 Srebrenica massacre, when peacekeepers failed to prevent Bosnian Serb forces from taking more than 8,000 civilians from shelters and killing them.

Mr Rutte yesterday laid flowers at a monument in the town and visited Dutch troops on EU missions.

But Milorad Dodik, president of Republika Srpska, a Serb group within Bosnia and Herzegovina, is seeking to reopen the wounds of a civil war that has claimed more than 100,000 lives and displaced millions.

Dodik held a celebration on January 9 to commemorate Bosnian Serbs’ 1992 declaration of independence, which led to civil war.

He has hinted that the republic could try to leave again, a move that would crush its chances of joining the EU.

what will you see today

1. Council of European Union-Egypt Associations.

2. EU Economic Commissioner Paolo Gentiloni, Belgian Finance Minister Vincent van Petegem and EIB President Nadia Calvigno participate in the EU Sustainable Investment Conference.

go ahead and read these

• The future of EPC: European diplomats are concerned that British political theater is jeopardizing the holding of the next summit of the European Political Community.

• Mr. Aping Le Pen: President Emmanuel Macron has moved to the right but writes that trying to win over voters ahead of the European elections will be difficult. Sylvie Kaufman.

• Absorption amount: Big food companies say regenerative agriculture can help reduce emissions, but in reality there are hurdles.