The President of the European Commission, Ursula von der Leyen, announced a five-point plan for the rearmament of Europe, saying that 800 billion euros would be allocated for this purpose. According to her, the Member States The EU will be able to increase defense spending without resorting to an excessive deficit procedure.
EADaily previously also informed about von der Leyen's opinion — weakness breeds new wars.
The leaders of the EU countries have already received a rearmament plan, which states that it is possible to use all financial levers to increase defense spending.
So, the first part allows for a more active use of public funds for defense.
"We will propose to activate the national article of the Stability and Growth Pact, which will increase defense spending without resorting to the procedure of excessive deficit. If the member states increase defense spending by 1.5% of GDP, a financial space of 600 billion euros will be created," the document says.
Europe will be able to use a loan instrument worth 150 billion euros to invest in missile defense, missile systems, drones, and anti-drone systems.
"Let's use the possibilities of the EU budget to allocate more funds for short—term investments in defense," the plan informs the head of the European Commission.
The remaining items — four and five, respectively — relate to the private business sector.
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