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It would be absurd if Ukraine were to slide into a financial crisis because the EU could not agree on how to raise the funds to prevent it.The way to avoid that outcome is to adjust one of the EU’s two instruments for non-eurozone members to meet Ukraine’s needs: The Macro-Financial Assistance scheme, a versatile instrument that can combine loans and direct subsidies; or the balance-of-payments assistance facility, which could complement an IMF program to EU countries.
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