BRUSSELS (BELGIUM) (ITALPRESS) – “We are in an era of rearmament, and Europe is ready to increase its defense spending, both to support Ukraine and to address long-term difficulties and take more responsibility for its own security. That’s why I wrote a letter to the leaders in which I talked about the European rearmament plan, Rearm Europe: it’s a set of proposals that focuses on how we can increase defense spending quickly and significantly, now but also over a longer period.” This was announced by European Commission President Ursula von der Leyen, speaking to the press.
It is “a 5-point plan,” Europe “is ready to take responsibility: rearming Europe can mobilize about 800 billion euros to be more secure and resilient. We will continue to work and cooperate with NATO,” he added, “this is Europe’s moment and we are ready to increase our efforts.
Among the points listed by Von der Leyen was the proposal to “activate the safeguard clause for the Stability Pact: we will increase spending without increasing the deficit exponentially; therefore, if member states increase defense spending by an average of 1.5 percent of GDP, this could create fiscal space of nearly 650 billion euros over a four-year period.”
Then the president spoke of “a new instrument that will provide 150 billion euros of investment funds that affect spending, will mean better spending and spending together. Missiles, ammunition, antidrones, cyber defense. This will allow member states to buy together, massively increasing their support for Ukraine. This system will reduce costs and fragmentation. This is Europe’s moment and we have to live up to it.”
Von der Leyen went on to mention the use of the EU budget in reference to cohesion policy funds, and the action of the European Investment Bank. “We also want to move private channels, accelerating savings also through the EIB.”
– photo Ipa Agency –
(ITALPRESS).
