EU Commission President Ursula von der Leyen has just announced the ReArm Europe programme aimed at boosting Europe’s defences. The programme includes various reforms and measures including the exemption of defence spending from the Excessive-Deficit-Procedure with the aim of incentivising member states to spend up to €650 billion in defence spending in the next four years. The EU Commission will also provide up to €150 billion in loans for further defence spending.
The introduction of Europe’s savings’ union will also be sped up to accelerate private investment in the defence industry.
The Commissioner President echoed her statement made last Sunday emphasising that Europe must prepare for the worst, as European leaders, especially French President Emmanuel Macron, insist on embracing Europe’s fate of taking full responsibility for its own security: this includes arming Ukraine and also securing Europe’s borders.
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