EU proposes borrowing 150 billion euros in big rearmament push

The European Commission proposed to borrow up to 150 billion euros to lend to EU governments for rearmament in response to Russia’s actions in Ukraine and uncertainty about U.S. protection. European Commission President Ursula von der Leyen emphasized the need for increased defence spending, with a focus on air defence, missiles, and drones, as part of a larger 800 billion euro package to boost European defence capabilities. EU leaders will discuss the proposals at a special summit on Thursday, aiming to enhance defence spending among member states and repurpose existing funds rather than introducing new EU money.

Full Article