The EU needs €500 billion in defense investments in the next 10 years
The European Union needs 500 billion euros in defense investments over the next decade.
This was stated by the President of the European Commission, Ursula von der Leyen, RBC-Ukraine reports citing Politico.
According to the publication, it is unclear whether this figure includes money for continued military assistance to Ukraine.
Von der Leyen emphasized that in 1999–2021, before Russia's full-scale invasion of Ukraine, the EU increased defense spending by 20%, China by 600%, and Russia by 300%.
The sources noted that this was before Russia massively increased spending over the past two years.
According to one government official, at today's prices, the EU would be short €400 billion. The question is how to finance €500 billion.
Author - Serhii Kolomiets, 28/06/2024
