On the eve of Donald Trump's inauguration, EU countries are discussing the initiative to create a fund for joint defense projects and weapons procurement.
This is reported by the official portal of the Foreign Intelligence Service of Ukraine.
The funds are planned to be raised by placing bonds under the national guarantees of the participating countries. The model will involve both EU member states and non-EU states (the United Kingdom, Norway).
Participation in the fund will be voluntary, which will allow neutral countries (Ireland, Austria, Malta, Cyprus) to refuse the project, but not to veto it.
The estimated amount of funding may be at least EUR 500 billion - the minimum necessary to meet Europe's defense needs over the next decade.
The implementation of the project will be an important step towards strengthening the EU's defense potential. The initiative already has support from the Netherlands, Finland, and Denmark.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.