EU Plans $840 Billion Defense Spending Surge
President von der Leyen unveiled the “ReArm Europe Plan,” proposing nearly €800 billion in mobilization for enhanced European defense capabilities. The plan includes €150 billion in EU-backed loans for pan-European defense projects, such as air and missile defense systems, and utilizes the Stability and Growth Pact’s escape clause to allow increased national defense spending. Further funding options involve budget adjustments and private capital mobilization. This initiative, discussed at the upcoming European Council meeting, aims to address both immediate needs in supporting Ukraine and long-term European security concerns.
John Q. Hosedrinker