European countries need to attract 200 billion euros of investments for defense spending, which should amount to 3-3.5% of the budget, French President Emmanuel Macron said.
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The head of the European Commission, Ursula von der Leyen, said earlier that she would present the EU’s defense strategy at the EU summit on Ukraine on Thursday. Bloomberg reported that the European Union intends to allocate hundreds of billions of euros for additional defense financing: we are talking about changing budget rules, possible joint financing and the redistribution of available funds.
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“First of all, we need 200 billion (euros) to be able to invest, but at the same time, for me, the purpose of Thursday’s discussion (at the EU leaders’ summit) is to identify common opportunities in which we want to increase our competence and achieve greater European autonomy. It’s not just about Ukraine, but also about convincing ourselves that we don’t know what the Americans will do in five or 10 years,” Macron said.
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The President also cited Russia’s defense spending as an example.
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“We have to prepare for what awaits us… no matter what the Americans do,” he said.
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Earlier, US President Donald Trump repeatedly criticized Europe for its low contribution to NATO’s defense capability and demanded that all member states increase defense spending to 5% of GDP, while Pentagon Chief Pete Hegseth assured that the United States does not plan to reduce its military presence in Europe yet. During the 61st Munich Security Conference, Vice President of the United States Jay Dee Vance, at a meeting with NATO Secretary General Mark Rutte, spoke about the need to increase defense spending by EU countries and more equitable burden sharing within the alliance.
