The European Commission's Ursula von der Leyen announced a five-part plan to strengthen Europe's defense capabilities in response to the withdrawal of US military aid to Ukraine. The proposal aims to raise close to 800 billion euros to bolster the defense industry and support urgent military needs in Ukraine. It includes 150 billion euros in loans to EU member states for defense investments, enabling collaborative purchasing among nations. This strategic shift addresses increased threats in Europe and aims to enhance military readiness across the continent.
A five-part plan to bolster Europe's defence industry and increase its military capability could raise nearly 800bn and provide urgent military support for Ukraine.
Ursula von der Leyen stated, 'This is a moment for Europe, and we are ready to step up' as she presented the ReArm Europe package.
The commission's plan includes 150bn of new joint EU borrowing to fund pan-European capabilities in air and missile defence and other military needs.
Von der Leyen asserts that 'Europe faces a clear and present danger' as the continent reevaluates its defence strategy due to shifted US support.
Collection
[
|
...
]