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.
Norway could soon receive a major boost to its airborne defence, as Washington signals readiness to expand military cooperation through a new high-val...
A British man accused of running a $100 million fake wine loan scam pleaded not guilty in New York, denying claims that he sold investors a vintage co...
The U.S. is set to support Lebanon’s military readiness with a $100 million deal to sustain A-29 Super Tucano aircraft, enhancing the Lebanese Armed...
U.S. singer Chris Brown pleaded not guilty in London to charges of assault and possessing an offensive weapon following a nightclub incident two years...
The U.S. unexpectedly recorded a $27 billion budget surplus in June, reversing last year’s deficit. This improvement reflects stronger customs colle...
European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
EBRD stated that Ukraine urgently needs new generation capacity after Russian attacks severely damaged its power sector, creating a significant shortfall in electricity generation. In response, the bank announced the launch of the Ukraine Renewable Energy Risk Mitigation Mechanism.
Germany and the UK will sign a new 'friendship treaty' next week to deepen cooperation on foreign policy, security, and economic ties amid global challenges.
France and Britain have announced a new level of cooperation on their nuclear deterrents, signalling a united European response to growing regional threats and uncertainty over continued U.S. defence support.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
Norway could soon receive a major boost to its airborne defence, as Washington signals readiness to expand military cooperation through a new high-value arms deal.
A British man accused of running a $100 million fake wine loan scam pleaded not guilty in New York, denying claims that he sold investors a vintage collection that didn’t exist. The high-stakes fraud allegedly duped victims with promises of rare bottles and big returns.
The U.S. is set to support Lebanon’s military readiness with a $100 million deal to sustain A-29 Super Tucano aircraft, enhancing the Lebanese Armed Forces’ ability to uphold the recent ceasefire in southern Lebanon.
The U.S. unexpectedly recorded a $27 billion budget surplus in June, reversing last year’s deficit. This improvement reflects stronger customs collections and significant cuts in education spending amid ongoing fiscal challenges.
China has introduced its first renewable energy consumption targets for key industrial sectors and data centres.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment