Von der Leyen unveils €150 billion common defense fund for Europe
European Commission President Ursula von der Leyen has announced an ambitious new plan to bolster the European Union’s defense capabilities, unveiling a proposed common defense fund worth up to €150 billion. Dubbed the “Rearm Europe” plan, the initiative is designed to significantly enhance military spending across the bloc in response to growing security concerns and diminishing US engagement, particularly in Ukraine.
The timing of von der Leyen’s proposal is significant, coming just hours after US President Donald Trump announced the suspension of all military aid to Ukraine following a contentious meeting with Ukrainian President Volodymyr Zelenskyy. This decision by Washington has sent shockwaves through Europe, raising urgent questions about the continent’s ability to defend itself in the absence of full-fledged American support.
Von der Leyen’s proposal outlines a comprehensive five-part strategy aimed at increasing defense expenditures across the EU, making it easier for member states to ramp up military investments while navigating the bloc’s strict fiscal constraints. At the heart of this plan is a mechanism that would allow EU countries to access up to €150 billion in loans for military purposes. Additionally, the broader “Rearm Europe” plan aims to unlock an estimated €800 billion in additional defense spending over the coming years.
This bold initiative is expected to be a central topic of discussion among EU ambassadors, who are meeting today to lay the groundwork for a high-stakes summit of EU leaders scheduled for March 6. The proposal will likely face both support and resistance, as member states weigh the benefits of increased military spending against concerns over debt and fiscal responsibility.
Von der Leyen emphasized the urgency of Europe taking greater........
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