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Switzerland's upper house rejects 5 billion Swiss franc aid plan for Ukraine
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Switzerland's upper house of parliament rejected a 5 billion Swiss franc ($5.58 billion) aid contribution for Ukraine on the grounds that it breached borrowing restrictions in the neutral country. The 15 billion franc package, which also included 10.1 billion francs in additional funding for the country's armed forces, was voted down with 28 against and 15 in favor. The plan's defeat had been widely anticipated, with legislators from the right particularly opposed to it. Lawmakers argued the package violated a debt brake provision in Switzerland. The aid for Ukraine was intended to support the reconstruction and repair of everyday infrastructure in the country.
#Switzerland #Ukraine #Aid #Parliament #BorrowingRestrictions
https://www.yahoo.com/news/switzerlands-upper-house-rejects-5-160159672.html
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Switzerland's upper house of parliament rejected a 5 billion Swiss franc ($5.58 billion) aid contribution for Ukraine on the grounds that it breached borrowing restrictions in the neutral country. The 15 billion franc package, which also included 10.1 billion francs in additional funding for the country's armed forces, was voted down with 28 against and 15 in favor. The plan's defeat had been widely anticipated, with legislators from the right particularly opposed to it. Lawmakers argued the package violated a debt brake provision in Switzerland. The aid for Ukraine was intended to support the reconstruction and repair of everyday infrastructure in the country.
#Switzerland #Ukraine #Aid #Parliament #BorrowingRestrictions
https://www.yahoo.com/news/switzerlands-upper-house-rejects-5-160159672.html