European Commission President Ursula von der Leyen has proposed an $840 billion plan to increase defense budgets in Europe amid concerns about US military aid to Ukraine and potential US commitments to protect European allies. The plan includes a new fund of over $150 billion and relaxing debt rules to free up $680 billion over four years, with member states able to use funding from other programs for defense spending. Von der Leyen’s proposal will be discussed at an EU summit on Thursday.
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