European Commission President Ursula von der Leyen has revealed an ambitious plan to bolster Europe’s defense capabilities in response to increasing security challenges, including the ongoing war in Ukraine.
Speaking at a press conference, von der Leyen declared, “We are in an era of rearmament. Europe is ready to significantly increase its defense spending, both in response to short-term challenges and in support of Ukraine, and in the long term to take responsibility for our own security.”
The “Rearmament of Europe” initiative outlines five key measures:
Unlocking public funding for defense.
Creating a new instrument to provide €150 billion in loans to EU member states for defense investments.
Leveraging the EU budget for defense funding.
Mobilising private capital through a new Savings and Investment Union.
Engaging the European Investment Bank to support defense projects.
Von der Leyen said the plan could mobilize up to €800 billion in total, dramatically strengthening Europe’s defense infrastructure and military capabilities.
“This is Europe’s moment, and we must rise to the challenge,” she said, stressing the urgency of the initiative as Europe faces a rapidly changing security landscape.
