New EU plans to strengthen Europe's defense industry and boost military capabilities are set to mobilize nearly 800 billion euros ($841.4 billion), according to EU Commission President Ursula von der Leyen.
The European Union will propose giving member states greater fiscal space to invest in defense, alongside 150 billion euros in loans designated for these investments. Additionally, the EU is aiming to attract private capital to support these ambitious defense initiatives.
Von der Leyen emphasized the importance of enhancing Europe's autonomy and security by fostering a robust defense economy. This move is seen as a significant step towards ensuring that Europe can independently safeguard its interests and maintain peace in the region.
Hope this helps the EU stay ahead in global defense dynamics! 💪
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EU defense plans could mobilize 800 billion euros, von der Leyen says
cgtn.com
