EU Commission President Ursula von der Leyen announced on Tuesday that new plans to strengthen Europe’s defence industry and enhance military capabilities could mobilise close to €800 billion (approximately $841.4 billion).
n her remarks, von der Leyen outlined proposals designed to provide member states with increased fiscal space for defence investments. Key elements of the plan include offering €150 billion in loans to support these investments and actively seeking to attract additional private capital to bolster defence projects across the bloc.
The initiative is part of a broader strategy aimed at reinforcing Europe’s strategic autonomy amid evolving global security challenges. By expanding financial support and leveraging both public and private funding, the EU intends to enable member states to modernise their military capabilities and reduce dependency on external sources for critical defence technology.
“Ensuring that our member states have the financial tools to invest in modernising their armed forces is essential for the security and stability of Europe,” von der Leyen said. The proposed measures are intended to accelerate defence projects and maintain a robust European defence industry capable of addressing emerging threats.
The proposal comes at a time when geopolitical tensions and an uncertain security landscape are prompting EU leaders to re-examine defence spending and strategic priorities. Further discussions and negotiations among member states and EU institutions will determine the specific mechanisms for mobilising the estimated €800 billion.
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After Ukrainian drone strikes on Russia's nuclear-capable bombers, Trump and Putin held a tense phone call warning of escalation and reigniting concerns over Iran’s nuclear ambitions.
A cargo ship carrying around 800 electric vehicles caught fire off Alaska, forcing its 22 crew members to abandon the vessel amid rising concerns over maritime EV fires.
The Congressional Budget Office says Trump’s tax-slash megabill will balloon the federal deficit by $2.4 trillion over 10 years—and leave nearly 11 million more Americans without health insurance, largely due to cuts in Medicaid and tighter eligibility rules.
After Ukrainian drone strikes on Russia's nuclear-capable bombers, Trump and Putin held a tense phone call warning of escalation and reigniting concerns over Iran’s nuclear ambitions.
A cargo ship carrying around 800 electric vehicles caught fire off Alaska, forcing its 22 crew members to abandon the vessel amid rising concerns over maritime EV fires.
The Congressional Budget Office says Trump’s tax-slash megabill will balloon the federal deficit by $2.4 trillion over 10 years—and leave nearly 11 million more Americans without health insurance, largely due to cuts in Medicaid and tighter eligibility rules.
Vladimir Putin thanked the pope for supporting peace efforts but accused Ukraine of fueling war, calling Kyiv's actions “terrorism,” according to the Kremlin.
German Chancellor Friedrich Merz is set for his first official visit to the US, where he’ll meet President Trump to discuss Ukraine, trade tensions, and more. Meanwhile, Cologne braces for a massive WWII bomb evacuation.
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