EU leaders meet to decide on €500 billion defense strategy.
According to Euronews, the European Union needs to invest 500 billion euros over the next decade to strengthen its defense capabilities and launch the defense industries it needs. Still, member states are divided over the purchase of vital equipment and how to finance the project.
EU leaders are scheduled to meet in Brussels on Monday to agree on a common strategy to strengthen Brussels’ defense capabilities and how to finance it.
The 27 EU leaders in Brussels will discuss transatlantic relations and the European defense strategy with two main axes: which military capabilities the EU should prioritize and spend on, and how to finance the development and acquisition of these capabilities?
NATO Secretary General Mark Rutte and British Prime Minister Keir Starmer will also be present at parts of the meeting.
Ahead of the summit, European intelligence agencies claimed that Russia could launch a military attack on an EU member state by 2030 in response to Western sanctions aimed at crippling Moscow’s economy!
According to European Commission President Ursula von der Leyen, the EU needs to invest €500 billion in defence over the next decade. This is despite the fact that the EU budget for 2021-2027 has allocated only €8 billion for this sector.