European Union President Ursula von der Leyen has proposed a plan to increase defense spending by up to 800 billion euros ($841 billion), with the goal of making Europe more secure and resilient.
The plan, known as “ReArm Europe,” aims to mobilize loans of 150 billion euros for EU member states to invest in key defense capabilities such as air and missile defense, artillery systems, and cyber security. This is part of a broader effort to boost defense spending across the continent, with von der Leyen calling it an “era of rearmament” for Europe.
The proposal comes amid growing tensions between Europe and Russia over Ukraine, which has led to increased pressure on European countries to act. The US has also been pushing for allies to increase their defense spending above 2% of GDP, although some have voiced concerns about meeting this target.
Von der Leyen’s plan is seen as an important step towards addressing these security concerns, with German foreign minister Annalena Baerbock calling it an “important first step” towards achieving peace through strength. The EU leaders will gather in Brussels on Thursday to discuss the proposal and its implications for European defense spending.
The ReArm Europe plan is designed to enable EU member states to increase their defense spending over time, with von der Leyen emphasizing the need for a “quantum leap” in military and financial support for Ukraine. With tensions between Russia and Ukraine remaining high, the EU’s proposal offers a significant boost to European security and resilience.
Source: https://www.cnbc.com/2025/03/04/europe-looks-to-mobilize-840-billion-in-defense-spending-boost-eu-commission-head-says.html