The European Union has unveiled its plan to spend €800billion in a mega-defence deal dubbed “ReArm Europe”.
European Commission President Ursula von der Leyen pushed ahead with the proposal tonight, despite failing to receive the support of Hungarian leader Viktor Orban.
The deal ensures Europe “must become more sovereign, more responsible for its own defence and better equipped to act and deal autonomously with immediate and future challenges and threats”.
It also guarentees that the 27 member states will “accelerate the mobilisation of the necessary instruments and financing in order to bolster the security of the European Union and the protection of our citizens.”
Ukrainian President Volodymyr Zelenskiy and European Commission President Ursula von der Leyen
REUTERS
Von der Leyen split the accord into two parts, with the first component centred around members of the Brussels bloc boosting defence spending by 1.5 per cent of GDP.
The accord will likely create close to €650billion over the course of four years.
The second pillar provides a new instrument to create €150billion of loans to member states for defence investments.
Commenting on the proposal, Von der Leyen said: “We are living in the most momentous and dangerous of times.
“I do not need to describe the grave nature of the threats that we face.
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Donald TrumpREUTERS“Or the devastating consequences that we will have to endure if those threats would come to pass.
“Because the question is no longer whether Europe's security is threatened in a very real way.
“Or whether Europe should shoulder more of the responsibility for its own security. In truth, we have long known the answers to those questions.
“The real question in front of us is whether Europe is prepared to act as decisively as the situation dictates.”
She added: “Europe is ready to assume its responsibilities.
“ReArm Europe could mobilise close to €800billion for a safe and resilient Europe.
“We will continue working closely with our partners in Nato. This is a moment for Europe. And we are ready to step up.”
Ursula von der LeyenGETTYFollowing today’s emergency summit in Brussels, Ukrainian leader Volodymyr Zelensky confirmed Kyiv officials will meet American counterparts next week for talks about ending the conflict with Russia.
However, US President Donald Trump appeared to heap further pressure on America’s Nato allies.
Trump appeared to suggest that America would not defend Nato allies who do not pay their fair share on defence, labelling nations who fall short of the two per cent threshold “delinquent”.
Nato, which counts 31 countries as signed up members, contributes a combined total of 2.7 per cent of its GDP to defence.
However, only 20 countries meet the two per cent target, with Belgium, Canada and Italy falling well short.
The UK’s contribution stood at 2.33 per cent in 2024, above Germany and France but significantly below the United States, Estonia and Poland.
