The European Union’s new plans to strengthen Europe’s defense industry and enhance military capabilities could mobilize around 800 billion euros.
This was stated by the President of the European Commission, Ursula von der Leyen.
Speaking at a press conference, she said: “We need a massive increase in defense, without any doubt.”
“We want lasting peace, but lasting peace can only be built on strength, and strength starts with strengthening ourselves.”
She added that the EU will propose to give member states more fiscal space for defense investments, as well as 150 billion euros in loans for these investments, and will also aim to mobilize private capital.
