EU unveils €150 billion defense spending strategy
European Commission President Ursula von der Leyen has stated that the security of the EU is “threatened in a very real way.”
TroibNews 
European Commission President Ursula von der Leyen has stated that the bloc’s security is “threatened in a very real way.”
In response to this concern, she announced a €150 billion initiative for available loans targeted at the defense industry within the EU. Dubbed the “ReArm Europe” project, it is designed to enhance the EU’s safety and resilience.
“This is a new instrument. It will provide €150 billion of loans to member states for defense investment,” von der Leyen emphasized during her speech on Tuesday.
She urged that the EU must begin “spending better and spending together” to enhance military capabilities, especially given that “we are living in dangerous times.”
Von der Leyen highlighted that these loans would enable member states to bolster “pan-European capabilities” in areas including air and missile defense, missile and ammunition production, drone manufacturing, anti-drone systems, cybersecurity, and military mobility.
“Europe is ready to massively boost its defense spending, both to respond to the short-term urgency to act and to support Ukraine, but also to address the long-term need to take on more responsibility for our own European security,” she stated.
Furthermore, the European Commission President suggested lifting EU-imposed limits on government spending related to defense investments. She also proposed allowing member states to utilize funds received from Brussels to address military expenditures, which she estimated could provide up to €800 billion for defense projects.
EU leaders are set to deliberate on von der Leyen’s proposals at a special summit on Thursday.
“We are living in dangerous times. Europe’s security is threatened in a very real way. Today I present ReArm Europe. A plan for a safer and more resilient Europe,” she concluded.
Max Fischer for TROIB News
In response to this concern, she announced a €150 billion initiative for available loans targeted at the defense industry within the EU. Dubbed the “ReArm Europe” project, it is designed to enhance the EU’s safety and resilience.
“This is a new instrument. It will provide €150 billion of loans to member states for defense investment,” von der Leyen emphasized during her speech on Tuesday.
She urged that the EU must begin “spending better and spending together” to enhance military capabilities, especially given that “we are living in dangerous times.”
Von der Leyen highlighted that these loans would enable member states to bolster “pan-European capabilities” in areas including air and missile defense, missile and ammunition production, drone manufacturing, anti-drone systems, cybersecurity, and military mobility.
“Europe is ready to massively boost its defense spending, both to respond to the short-term urgency to act and to support Ukraine, but also to address the long-term need to take on more responsibility for our own European security,” she stated.
Furthermore, the European Commission President suggested lifting EU-imposed limits on government spending related to defense investments. She also proposed allowing member states to utilize funds received from Brussels to address military expenditures, which she estimated could provide up to €800 billion for defense projects.
EU leaders are set to deliberate on von der Leyen’s proposals at a special summit on Thursday.
“We are living in dangerous times. Europe’s security is threatened in a very real way. Today I present ReArm Europe. A plan for a safer and more resilient Europe,” she concluded.
Max Fischer for TROIB News
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