Have the article read by OpenAI (Beta). Please note that AI translations may take some time to process.Brussels (dpa) – European Union leaders plan to significantly increase investments in defence aiming to rearm the bloc, following the United States’ drastic turn on support for Ukraine.
The EU “will reinforce its overall defence readiness, reduce its strategic dependencies, address its critical capability gaps and strengthen the European defence technological and industrial base,” a joint declaration adopted by leaders read.
“Europe must become more sovereign, more responsible for its own defence and better equipped to act and deal autonomously with immediate and future challenges and threats,” it read.
EU leaders discussed a 150 billion euros (162.4 billion dollars) fund pitched by the European Commission with hopes to mobilise some 800 billion euros in total thanks to additional funding from the European Investment Bank and private capital.
Leaders backed the easing of the EU’s usually strict debt and deficit rules to allow countries to sharply increase military spending. (6 March)
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