Some European Union countries introduce emergency measures to increase defense costs.
Eleven European Union member countries have submitted a request to exclude the EU from fiscal policies, which will allow them to conduct investments in defense over budget expenditures. This was reported in the EU Council statement.
The activation of the National Exclusive Point provides EU member states with additional budget space to increase defense costs, while remaining within the framework of fiscal policies.
Currently, Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Greece, Croatia, Latvia, Lithuania, Hungary, Poland, Portugal, Slovenia, Slovakia and Finland have decided to ask for this item activation. 12 of them submitted an official written request to the EU Executive Body.
This release gives countries the opportunity to increase their defense costs up to 1.5% of their GDP a year -in four years without violating EU’s fiscal policies.
The EU Council has now explained that all member states are required to increase defense capabilities in the European Union. And the EU Economic Management System allows you to use flexibility in cases where extraordinary conditions independent of a member state have significant impact on public finances.
“As noted by the European Commission, Russia’s aggressive war against Ukraine and its threat to Europe’s security is its extraordinary conditions and affects public finances by the need to increase potential defense,” the report said.
Remember that earlier the head of the Pentagon Pit Gates said the United States would no longer guarantee security in Europe and called NATO allies to increase defense costs.
The President of Ukraine Vladimir Zelensky emphasized that NATO does not exist only if the United States leaves it. In addition, it will weaken Ukraine and leads to a great war in Europe.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.