The EU proposes to increase defense spending tenfold

EU Commissioner for Defense and Space Andrius Kubilius believes that defense spending in the next seven-year EU budget needs to be increased tenfold – to 100 billion euros. He said this in an interview with Politico.

It was noted that the current seven-year budget with a total volume of more than 1 trillion euros provides only 10 billion euros for defense.

Kubilius is the first EU Commissioner for Defense and Space. The position was created to better integrate the bloc’s fragmented defense industry, increase spending, send more weapons to Ukraine and improve defense coordination with NATO and the United States.

According to the European Commissioner, the key is to give Ukraine the support it needs to win the war.

“We must be prepared for the possibility of Russian aggression. If we fail in Ukraine, then, of course, the possibility of Russian military aggression against EU countries may increase,” he said.

Overhauling the bloc’s arms industry “requires a lot of money” and European Commission President Ursula von der Leyen has announced an increase in European defense spending of an additional 500 billion euros over the next decade. .

Kubilius warned that finding this money would not be easy, but without it all defense plans would remain “theoretical.”

The Commissioner believes that new money can come from increasing the EU budget, issuing joint debt and easing the rules of institutions such as the European Investment Bank.

Kubilius suggested that the EU reconsider its fiscal policies when it comes to defense spending. Currently, the EU limits member countries to budget deficits of no more than 3% of GDP and public debt of no more than 60% of GDP.

We remind you that in November the EU financed the joint purchase of weapons for the first time, some of which Ukraine will receive.

The new European Commissioner for Defense discussed Ukraine’s defense with Umerov