Supporting Ukraine now is the best thing to do for the global economy — Niall Ferguson

10 September 2023

Helping Ukraine is one of the best steps to support the global economy, said Niall Ferguson, a senior fellow at Stanford University.

“Some people in the US — will say that investment in the Ukraine war is a waste of money. But this is not the case — this war is an extraordinarily efficient war with a decent prospect of success even without the miracles that might have been good from the counter-offensive. In fact, it is the best value for money. Ensuring Ukraine's national security is the best financial investment, — said Niall Ferguson at the annual meeting of the Yalta European Strategy (YES) “The Future Is Being Decided in Ukraine”, organised by YES in partnership with the Victor Pinchuk Foundation.

The Senior Fellow believes that Ukraine's loss in the war will be a disaster not only for Ukraine but for the whole world, as a new Cold War will be complicated for the West to sustain financially.

“We cannot afford to lose this war. If, two years from now, our attention span has wavered. If the Russian offensive is being reported on, this is not just a tragedy for Ukrainians but for Europe and the whole world. The Pacific region is also turbulent. The cost of a hypothetical reconquest of Taiwan is much higher than the price of supporting Ukraine. Both the United States and its allies will not be able to financially cover the costs of a new Cold War,” Niall Ferguson summarised.

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Strobe Talbott
Strobe Talbott
President, Brookings Institution, 8th YES Annual Meeting, 2011
«The world must revise its approach to global governance »