EU has presented the ReArm Europe plan worth €800 billion to strengthen defense: aimed, among other things, at Ukraine
Kyiv • UNN
Ursula von der Leyen presented the "rearmament of Europe" plan with new financial instruments. The plan involves the mobilization of 800 billion euros and includes financing of 150 billion for defense needs.
The President of the European Commission Ursula von der Leyen presented today the "ReArm Europe" plan, reports UNN.
Details
"Europe is ready to significantly increase defense spending. This is both to respond to the short-term need to act and to support Ukraine, as well as to address the long-term need to take much more responsibility for our own European security," von der Leyen said.
"That is why today I wrote a letter to the leaders ahead of the European Council meeting on Thursday. That is why we are here together today. In this letter to the leaders, I outlined the ReArm Europe plan. This set of proposals is aimed at how to use all the financial levers at our disposal to help member states quickly and significantly increase defense spending. Urgently now, but also over a longer period throughout this decade," the head of the European Commission indicated.
"We are living in dangerous times. The security of Europe is under serious threat. Today I am presenting the ReArm Europe plan," von der Leyen also noted on X.
According to her, the ReArm plan means:
- more fiscal space for national state funding of defense through provisions for exemption from obligations;
- a new instrument for lending to EU countries for the most necessary defense capabilities (€150 billion);
- more flexible use of EU funding for defense investments;
- more private capital mobilized through the Savings and Investment Union and the EIB (the last two directions).
Speaking about the second point of the plan, von der Leyen indicated that it is mainly about spending better – and spending together. "We are talking about pan-European capability areas. For example: air and missile defense, artillery systems, missiles and ammunition, drones and counter-drone systems; as well as to meet other needs, from cyber to military mobility," she explained.
"Of course, with this equipment, member states can significantly enhance their support for Ukraine. Thus, immediate military equipment for Ukraine. This approach to joint procurement will also reduce costs, decrease fragmentation, increase interoperability, and strengthen our defense industrial base. And this can benefit Ukraine, as I just described. So, this is a moment for Europe, and we must justify it," von der Leyen indicated.
"In conclusion: Europe is ready to take responsibility. ReArm Europe can mobilize around €800 billion for a secure and resilient Europe. We will continue to work closely with our NATO partners. This is a moment for Europe. And we are ready to strengthen ourselves," she emphasized.
