The President of the European Council, António Costa, has revealed key aspects of the plan for Europe’s rearmament, which includes expanding military production within the EU.
However, in the short term, weapons will be purchased from partner countries, including the United States, Japan, and South Korea.
In the short term, we will have to procure weapons where they are available – in Europe, America, South Korea, or Japan. However, in the long term, our investments should be more decisively directed towards the military industry of our own countries, Costa stated in an interview with the Italian newspaper Repubblica.
According to him, the development of the defense sector within the EU will not only ensure security but also create new jobs and stimulate technological innovation. The European Commission is also considering the possibility of providing a €150 billion loan as part of this plan.
Earlier, European Commission President Ursula von der Leyen proposed mobilizing €800 billion over four years for Europe’s rearmament. The financing is expected to come from national budgets of EU countries, budgetary relief measures, and the reallocation of funds originally intended for regional development.
The EU’s strategy aims to boost military production within the bloc and conduct joint procurement, which should reduce Europe’s dependence on arms supplies from outside the union.
