EU launches scheme to buy more weapons in Europe as Russia remains ‘a threat for the foreseeable future’Europe needs to be able to deter potential invaders by 2030, the EU executive has said as it launched a push to buy more weapons in the bloc and from allied countries, rather than from the US.The UK, US and Turkey will be excluded from defence contracts funded by a €150bn (£125bn) EU loans programme, unless they sign a security and defence partnership agreement with the EU. Continue reading...
The EU plans to loan €150bn for European defense, excluding the UK, US, and Turkey from contracts unless a security agreement is signed. The initiative requires 65% of equipment costs to come from EU, Norway, or Ukraine suppliers. Prompted by Russia's threat, the EU aims for "readiness 2030" with rearmament and a strategic industrial base. While favoring European suppliers, the move faces opposition from some member states and concerns about hindering international defense cooperation. The plan involves EU-backed loans and fiscal flexibility, aiming for €800bn in new defense spending.
