A top European official backs a multi-trillion-euro Marshall-style plan to rebuild Ukraine, saying that it must be a global rescue effort
"It's a challenge for the entire free world to make sure that this will be provided," says President of the European Investment Bank Werner Hoyer.
Werner Hoyer, president of the European Investment Bank, said Europe must not be left alone to foot the vast bill that he predicted could run into the trillions. "What will it cost to rebuild, reconstruct Ukraine? Figures were flying around the room ... but one thing is quite clear to me: We are not talking about millions but trillions" said Hoyer, a former German foreign office minister under Chancellor Helmut Kohl following the fall of the Berlin Wall.
"The political leaders must make up their mind as soon as possible," Hoyer said. "But I think we need a structure that is really targeting a global audience and not just the taxpayers in the European Union."
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