"Lars Lokke Rasmussen said that the US already thought the EU was 'weak' - and they would be right if the bloc failed to act- as he arrived for Foreign Affairs Council talks in Brussels on Monday. "As I see it, this week is absolutely crucial for Ukraine, but actually also for Europe. We have an America that looks at Europe and thinks we are weak - and we are, if we do not act," he said. "And it is absolutely crucial that during this week we secure some medium-term financing for Ukraine, so that they can hold their society together, stand up against the Russians and negotiate from a position of strength. The only option that realistically exists is this reparations loan, which can be managed by qualified majority (QMV)." "It is absolutely crucial that a decision is made. It won't be today, but it must happen when there is a meeting in the European Council later this week. Otherwise, we leave Ukraine in a really, really bad place, and unfortunately, we also show the world that, in that case, there might be some truth to the characterisation that the Americans have recently attributed to Europe, as the Americans have recently said about Europe," he continued. "I would say it's crunch time for Europe and Ukraine," he added. A number of EU leaders and representatives - notably high representative Kaja Kallas - have also suggested the bloc could use Russian assets for a $140bn 'reparations loan' for Ukraine via 'qualified majority' - or decisions made with 15 of 27 members representing 65 percent of the bloc by population. Belgium - where the assets are held - and others have hit back at the plans to use them, citing the impact on investor confidence and credibility, while Moscow has also called it 'illegal'. "