8 billion euros for the European Defence Fund

Europe’s technological know-how will from 2021 unite under a fully-fledged European Defence Fund of 8 billion euros, creating a joint innovative and competitive defence industrial base, after an agreement reached between the European Parliament and the Council on Monday. Renew Europe’s lead negotiator Dominique Riquet:

“We can welcome this step forward towards a more secure and protecting Europe, for the benefit of its citizens. On such a sovereign matter, setting up this Fund through the Union is a real sign of confidence and solidarity between Member States. Let us remember that in terms of military spending, the European Union is the second largest player in the world. This Fund should generate synergies between European defence industries and allow the emergence of a military-industrial complex.”