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Brussels – President of the European Commission Ursula von der Leyen has proposed a plan to massively increase defense spending in Europe.
Overall, Europe could mobilize almost 800 billion euros, von der Leyen said in Brussels. The security of the continent is threatened in a very real way.
“This is Europe’s hour, and we must live up to it,” von der Leyen declared. “We are in an era of armament, and Europe is ready to massively increase its defense spending.”
Ursula von der Leyen, President of the European Commission
Just a few hours before von der Leyen’s statement, the government of US President Donald Trump announced it would temporarily halt its military aid for Ukraine – just days after the incident during the visit of Ukrainian President Volodymyr Zelensky in Washington. The move is likely to have drastic consequences for Ukraine. Since the public dispute between Zelensky and Trump, there have been calls for Europe to urgently do more for its own defense.
New Debt for More Security
Von der Leyen’s plan includes a new financing mechanism that would provide 150 billion euros in loans for defense investments. The funds are to be used particularly for air and missile defense, artillery systems, drones, and cybersecurity. Additionally, strategic capabilities such as military mobility and the protection of critical infrastructure are to be strengthened.
Von der Leyen noted that “Russia’s aggression has suffered immense losses” and that Europe’s determined response must secure long-term stability. “This is about better and joint spending,” she said. Member states could pool their demand, purchase jointly, and at the same time increase support for Ukraine.
In addition, the Stability and Growth Pact’s escape clause is to be activated. It would allow individual member states to incur new debt for defense spending without having to fear an EU deficit procedure. If member states were to increase their defense spending on average by 1.5 percent of gross domestic product (GDP), this could create a budgetary space of almost 650 billion euros over a period of four years, von der Leyen calculated.
Von der Leyen hopes that her proposal, together with private capital and additional funds for the European Investment Bank, could mobilize nearly 800 billion euros for defense. She presented her plan shortly before a special summit on Ukraine on Thursday. There, EU heads of state and government want to discuss, among other things, how to further ramp up the European defense industry. (March 4)