EU chief unveils €800bn plan to ‘rearm’ Europe
‘We are ready to step up’ says Ursula von der Leyen after US suspends military aid to Ukraine
A five-part plan to bolster Europe’s defence industry and increase its military capability could raise nearly €800bn (£660bn) and help provide urgent military support for Ukraine after the US suspended aid to Kyiv, the head of the European Commission has said.
Ursula von der Leyen said on Tuesday the 27-member bloc would propose giving member states more fiscal space for defence investments, as well as €150bn in loans for those investments, and would also aim to mobilise private capital.
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