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Netherlands against eurobonds for more defense spending

by AI | 04.Feb 2025 | Europe in brief AI

Luxembourg Prime Minister Luc Frieden will emphasize on behalf of the Netherlands at the EU summit that it does not want to take on new European loans to finance defense needs. Frieden said this upon arrival at the summit on Monday. Frieden also speaks on behalf of the Netherlands, as Prime Minister Dick Schoof is still ill.

The Netherlands opposes EU loans for more defense spending. Photo: BTA

BRUSSELS (ANP) – Financing more EU defense spending is an important and at the same time politically sensitive issue at the meeting of government leaders. EU countries have different views on this. Luxembourg is aligned with the Netherlands, said the Luxembourg Prime Minister. “I share the position of Prime Minister Schoof on the financing.”

“The Netherlands is against eurobonds,” said Frieden. Just like the Netherlands, Luxembourg “and many other countries” believe that each member state should start spending 2 percent of its gross domestic product (GDP) on defense. Then, private investors and the European Investment Bank (EIB) should be looked at to finance defense spending. Especially countries that do not currently meet the 2 percent are in favor of European loans, or Eurobonds.

Frieden, and the Netherlands, think that the focus should now be on making European defense more efficient. “That is what we should concentrate on.” He will emphasize this on behalf of the Netherlands as well. “Where are the gaps? Where are the needs? How can we make more joint purchases? How can we strengthen the European pillar in NATO?”

“NATO is important,” emphasized Frieden. “We need to ensure that Europe can take care of its own defense within NATO.”

(February 3, 2025)