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The European Union plans to strengthen its cost protection in a great sense – but some leaders want it to go even further when geopolitical tensions are intensified.
The European Commission, the EU Executive Hand, offered measures earlier this month that could lead 800 billion euros (867 billion dollars) in new defense costs. These measures still have to be approved by different EU capitals, but were enough to raise EU protection shares as the plan was announced.
The current measures are “an important step in the right direction,” but “we may need to be more ambitious,” said the Prime Minister of the Greek Prime Minister Kirakas Mitotakis in Silvia Amar’s sidelines on Thursday.
A Plan of posterior EuropeThe which was announced earlier this month, includes 150 billion euros loans that state -member can access investment and security. These funds, however, will only be available if at least 65% of production costs will take place in the EU, Norway or Ukraine.
Soldiers of the Ukrainian Army of the 22nd Brigade during the training of the tank war, when the Russia-Ukraine war continues in the Donetsk region, Ukraine on October 29, 2023.
Diego Ehrer Carsed | Agency Anadolu | Gets the image
The proposal also allows the temporary weakening of the Block Financial Rules to allow states to use state financing to defend the national level. Travel at the European Investment Bank, the EU Investment Bank will also be available.
“I am glad that the member states will now have more financial flexibility within the stability package to spend more on defense,” Missatakis said, adding that this plan may go further.
“It should not be just a matter of loans as it is currently. I think we also need to seriously discuss the possibility of an institution, joint borrowing, which also offers grants to the member states,” he said.
Other leaders, such as Latvian Prime Minister Evika Sili, inflicted a similar tone.
She said she supported the package, which – even a year ago – would probably not have happened. The country has long supplied a stronger Europe that spends more on security and protection, she said.
“I believe that we need to discuss even more opportunities for financial resources,” Silio said, noting that administrative loads should also be reduced to support the military industry.
“This is just the beginning”
Lithuanian President Gitanas Nausda repeated the call for further financial instruments to be included in the EU protection plans.
“I think this is just the beginning,” he said Omar, explaining that options such as grants should also be considered.
“We would like to see the mixture, such as in the case of () pandemic, we would like to see a mixture of tools, borrowing and mixing grants,” he said.
Looking at the amount of cash allocated for defense expenses, Luxembourg Prime Minister Luke Freden said that the most important question – what he will be spent on.
“I think financing is always the second,” he said. “You first need to know what you do … Then we need to finance, mainly through our national budgets and in addition to some European funds,” he said.
“But first let’s discuss how we do it as we do it better as we do it more in common, more coordinated,” Freden added.
Member of the European Central Bank and French Bank Governor François Vilro de Galhaw on Thursday seemed more inexperienced about increasing defense costs.
According to A a AR Reuters The translation, he told the French BFM TV channel that although the country needs to increase the cost of defense, “we cannot pursue a policy to spend everything we need.”
