The European Commission will propose a number of solutions aimed at urgently strengthening the defense capabilities of European Union countries. This is a response to the policy of the United States under Donald Trump.
The European Commission is to propose a new joint EU loan, the total value of which can be up to EUR 150 billion. The purpose of this fund is to be to support the defense of the Member States, including by facilitating joint purchases. The proposal is to be officially presented during the special summit of the European Council dedicated to defense, which will take place this Thursday.
New ideas
As Reuters indicates, loans would be allocated, among others for anti -cancer defense, ammunition, drones and anti -done systems. “The project will reduce purchasing costs, increase interoperability and strengthen our defense industry base,” said the head of the European Commission, Ursula von der Leyen.
The aforementioned Loan Fund is not the only EU proposal to significantly improve the defense situation on the Old Continent. During the Thursday meeting, the concept of not counting defense expenses to the excessive deficit procedure will also be discussed. There is also talk about the EC proposal regarding the use of money transferred to member countries from the EU Cohesion Fund.
“If Member States would increase their expenditure on defense by an average of 1.5 percent. GDP, it could create a fiscal space worth nearly EUR 650 billion,” said von der Leyen.
Europe is ready to assume responsibility. Europe could mobilize nearly EUR 800 billion in favor of a safe and resistant Europe. We will continue to work closely with our partners in NATO. This is a moment for Europe. We are ready to act, “she added.
The Polish government also has its idea. On Tuesday, March 4, Prime Minister Donald Tusk stated that some funds from the national reconstruction plan (up to 30 billion euros) could be moved to expenses related to the arms industry.