As global leaders react to President Donald Trump’s decision to suspend US military aid to Ukraine, the European Union has unveiled an ambitious plan to bolster defense spending and enhance military support for Kyiv. European Commission President Ursula von der Leyen introduced a five-point proposal on Tuesday, aimed at increasing European defense investment ahead of a critical EU leaders’ summit in Brussels later this week.
The initiative, dubbed the “ReArm Europe” plan, will enable EU member states to borrow up to €150 billion (approximately $158 billion) for military expenditures. The funding will support the acquisition of essential military equipment, including air and missile defense systems, artillery, missiles, drones, and counter-drone technologies.
Von der Leyen emphasized the urgency of the situation, stating, “We are living in the most momentous and dangerous of times.” She underscored the need for the EU to take decisive action in strengthening its defense capabilities and maintaining support for Ukraine in light of shifting US foreign policy priorities, which appear to favor a rapprochement with Russian President Vladimir Putin.
Under the proposed framework, the EU could also reallocate existing budgetary resources to defense-related investments. Additionally, national governments may be given flexibility to divert funds earmarked for economic equalization projects toward defense initiatives. The European Commission is also considering easing strict fiscal regulations to enable member states to increase defense spending more freely.
Von der Leyen outlined the potential economic impact of this strategy, stating that if EU nations raised defense spending by an average of 1.5% of their gross domestic product (GDP), it could create fiscal space amounting to nearly €650 billion ($685 billion) over a four-year period. In total, the plan could mobilize up to €800 billion ($844 billion) for defense-related expenditures.
With the geopolitical landscape undergoing rapid shifts, the EU’s proactive approach seeks to fortify its security infrastructure while ensuring continued military support for Ukraine. The upcoming EU summit in Brussels will likely shape the final contours of this ambitious defense initiative.
source:https://edition.cnn.com/politics
