How can Europe cover the $100bn the war in Ukraine costs? The EU just signed off on a €90bn loan for Ukraine agreed at a summit on December 19 to get it through the next two years. But the increasingly dysfunctional European economy doesn’t have the cash to make the loan. So, it borrowed it. Russia is also spending extraordinary amounts – even more than the EU. Russia’s 2025 federal budget allocated about RUB13.5 trillion ($145bn) to “national defence”, according to the official budget. The difference is that Russia does have the money and is spending cash [...]