Poland to prioritise joint EU defence funding during its presidency, urging unity on security as a shared European goal. Ministers to explore funding options in April.
Poland will prioritise joint EU financing for defence during its upcoming presidency of the 27-nation bloc, highlighting security as a shared European responsibility, Finance Minister Andrzej Domanski announced on Wednesday.
The European Commission estimates that enhancing EU defence capabilities could cost over €500 billion within the next decade.
In April, EU finance ministers will meet in Warsaw to explore funding models. Domanski emphasised the need for a unified European approach, particularly for large-scale projects like a European air defence system, which require both funding and international cooperation.
He also called for greater efficiency, criticising Europe’s 12 separate tank systems as excessive. Potential financing solutions include leveraging the EU’s long-term budget for new borrowing, similar to the €800 billion COVID-19 recovery fund, or establishing a special purpose vehicle (SPV) with paid-in capital, akin to the European Stability Mechanism. The SPV option could involve non-EU nations, such as Britain and Norway, and keep control with governments rather than the European Commission.
Germany’s legal constraints on joint debt and the need for unanimous agreement among EU members present challenges. The financing needs will become clearer after EU Defence Commissioner Andrius Kubilius publishes a report in March outlining key priorities. However, discussions remain preliminary, with Domanski acknowledging that it is too early to decide on a specific model.
Poland has closed its Consulate General in St. Petersburg after Russia ordered its shutdown in retaliation for Warsaw’s closure of the Russian consulate in Poznań. The move highlights escalating diplomatic tensions, with both sides accusing each other of hostile actions.
Central Warsaw turned into a protest venue, as protesters demonstrated against European Union's trade policies. Demonstrators accuse the bloc of pursuing trade strategies that would harm the interests and needs of Polish farmers.
Poland is calling for NATO to expand naval patrols in the Baltic Sea, urging both regional and non-regional allies to contribute, in response to growing Russian threats and recent sabotage.
Hungary and Poland warn of escalating risks in the Ukraine war as Russia lowers its nuclear threshold and launches missile strikes, signalling a critical phase in the conflict.
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Start your day informed with AnewZ Morning Briefing: here are the top news stories for January 18th, covering the latest developments you need to know.
U.S. Congressional Azerbaijan Caucus co-chairs honour the 35th anniversary of January 20, reflecting on its impact as a pivotal moment in Azerbaijan's fight for independence.
Thousands in Belgrade held a silent protest outside RTS, honouring victims of a roof collapse. University students demanded justice for the tragedy, blaming Serbian authorities.
South Korea's impeached president Yoon Suk Yeol appeared in court to contest his detention extension on insurrection charges tied to his martial law declaration.
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