Finland's president praises a proposed EU plan to borrow around €140 billion to provide interest-free loans to Ukraine by seizing frozen Russian assets, mainly held in Belgium, though Belgium opposes the move due to concerns over financial credibility and long-term asset value. The plan aims to fund Ukraine's ongoing war efforts and is considered within international law, with burden-sharing among EU member states.
European leaders, including Germany's Chancellor Friedrich Merz, are considering using frozen Russian assets as collateral to fund a $160 billion interest-free loan to Ukraine, aiming to bolster Ukraine's resilience and pressure Russia into negotiations, though the plan involves complex legal and political challenges.
The University of Arizona is implementing a financial plan to address an ongoing budget deficit, which includes the resignation of the CFO, Lisa Rulney, and the enactment of hiring and compensation freezes. The university will also reduce financial aid for out-of-state students and defer raises. President Robert C. Robbins presented the plan, which aims to address overspending and poor budget controls, and includes measures such as freezing international travel, restricting purchases, and deferring nonessential capital projects. The university will eliminate the tuition guarantee for new students starting in fall 2025. The plan also involves reorganizing administrative services and implementing a centralized planning model.
Mayor Adams is open to rolling back some budget cuts in the city's financial plan, but only if they are reasonable and "make sense." The City Council has pushed back on the proposed cuts, arguing that the deficit is not as severe as the administration claims. Adams criticized the Council for complaining without offering solutions and emphasized the need for specific and logical alternatives. The city is facing a $7 billion budget deficit due to various factors, including spending on the migrant crisis and new contractual obligations.
La Liga has approved Barcelona's financial "viability plan," allowing the club to register new contracts and pursue new signings. Pending deals for Ronald Araujo, Sergi Roberto, and Marcos Alonso can now be processed. The approval could potentially boost Barcelona's chances of securing Lionel Messi's return, but the club is still subject to strict rules on registering new signings. The club can only register a new salary to the value of 40% of the sum they free up from their current wage bill.
