European leaders push for even more defense spending — despite plans for $867 billion 'ReArm' package

The European Union is planning to increase defense spending significantly amidst rising geopolitical tensions, with a proposed 800 billion euros in new defense spending by the European Commission. Greek Prime Minister Kyriakos Mitsotakis believes that while the current measures are a step in the right direction, the EU should be more ambitious. The ReArm Europe plan includes 150 billion euros in loans for member states to invest in defense and security capabilities, with the condition that at least 65% of production costs occur within the EU, Norway, or Ukraine.

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