The European leaders who convened in Brussels have endorsed the European Commission\u2019s strategy for strengthening the EU security, which envisages investment in defence of 800 billion Euros. Out of this funds, 150 billion will be earmarked to joint defence projects and can be used only for arms purchases from the EU defence industry or from the European Free Trade Association as well as from Ukraine. Purchases from countries, which do not run security partnerships with the EU, including the USA, aren\u2019t allowed.<\/p>\n
The White Paper for European Defence, as the Commission\u2019s strategy is titled, will allow the member states to increase their national defence budgets up to 1.5% of the GDP without triggering the excessive budget deficit procedure.<\/p>\n
Ursula von der Leyen, head of the European Commission said quote:<\/p>\n
\u201cIf member state would increase their defense spending by 1.5 percent of the GDP on average this could create fiscal space of close to 650 billion over a period of four years in addition to the 650 billion Euros all to be released. The second proposal will be a new instrument. It will provide 150 billion EUR of loans to member states for defence investment. This is basically about spending better \u2013 and spending together. We are talking about pan-European capability domains.\u201d<\/em><\/p>\n The Security Strategy allows the Europeans to increase their support for Ukraine beyond the commitments assumed for 2025.<\/p>\n During the summit, the member countries, with the exception of Hungary, have reiterated their support for Kyiv. Romania will participate in European consortiums for the production and purchase of armament, interim president Ilie Bolojan said at the meeting of the European leaders in Brussels. The Romanian official said the possibility for the member states to make joint purchases is an opportunity for the national defence industry<\/p>\n Ilie Bolojan<\/strong>: \u201c<\/strong>In the following period both the Ministry of Defence and the Ministry of Economy, the private companies in the field of defence, but also other companies, which are producing car parts and could be transferred to the defence industry, will have to work in such a way that we may join some European defence conglomerates in the production area so that we can make joint purchases.\u201d <\/em><\/p>\n In the meantime the North-Atlantic Alliance remains the foundation of collective defence interim president Ilie Bolojan went on to say adding that all the military arrangements Romania made with the USA will be respected, as budgets have already been allotted in this respect.<\/p>\n (bill)<\/p>\n","protected":false},"excerpt":{"rendered":" The European leaders who convened in Brussels have endorsed the European Commission\u2019s strategy for strengthening the EU security, which envisages investment in defence of 800 billion Euros. Out of this funds, 150 billion will be earmarked to joint defence projects and can be used only for arms purchases from the EU defence industry or from […]<\/p>\n","protected":false},"author":108,"featured_media":869110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[29621,158915,38287,35307,166215],"coauthors":[113249],"class_list":["post-874794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-defence","tag-ilie-bolojan","tag-security-strategy","tag-ursula-von-der-leyen","tag-white-paper"],"acf":[],"yoast_head":"\n