EU Prepares for €650B Military Upgrade
Twelve EU countries have requested the European Commission to activate exemptions from the Stability Pact rules through the national safeguard clause in order to increase defense spending, CE Report quotes ANSA.
The countries are Belgium, Denmark, Estonia, Finland, Germany, Greece, Hungary, Latvia, Poland, Portugal, Slovakia, and Slovenia.
The EU Commission had asked for applications to be submitted by today and expects additional ones “at a later stage,” as several other states have expressed interest.
According to the estimate behind a scenario where the safeguard clause is activated for all 27 EU countries and defense spending gradually increases, the ReArm plan could generate €650 billion in additional defense investments over four years.
