Estonian PM proposes EU plan to boost defense industry
Kyiv • UNN
Estonia's prime minister suggests the EU issue 100 billion euro bonds to support the defense industry and send more weapons to Ukraine.
The European Union should develop a plan to issue Eurobonds worth 100 billion euros ($107.8 billion) to stimulate the continent's defense industry, and meanwhile do more to deliver weapons to Ukraine. This was stated by Estonian Prime Minister Kaja Kallas, reports UNN with reference to Bloomberg.
We are in a situation where we need to invest more and (explore) what we can do together because the bonds that will be issued by individual countries individually are too small to scale. Eurobonds can have a much bigger impact.
Details
French President Emmanuel Macron and European Council President Charles Michel also supported the idea of joint borrowing to boost the continent's defense capabilities. More frugal countries such as the Netherlands and Germany are likely to be less interested.
Callas said she remains optimistic that Congress will be able to agree on funding after meetings with U.S. lawmakers in Munich.
The feeling was that, being here, they might have a better understanding of what it was all about.
However, the Estonian leader said there are other, more urgent steps the EU should take to help Ukraine while focusing on developing its industry and securing long-term supply contracts, including by looking deeper into its arms stockpile and sourcing supplies around the world to buy and send to Kiev.
We have to do everything. Europe has done a lot and must do even more. This is clear.
