Brussels promises to spend 131 billion euros on defense and space

Just a few years ago, the subject was completely taboo in Brussels. The European Union (EU), a peace project, could not finance weapons, as its founding treaty ensures, and therefore, by definition, it could not finance defense. The Russian invasion of Ukraine in 2022 ended up completely changing perceptions of the subject. At the end of June, while most European states, often also members of NATO, committed to devoting 3.5% of their national wealth to defense, compared to the current average of 2%, the EU also intends to play its part, albeit more modestly.

After offering member states €150 billion in subsidized loans in April to help them finance their defense efforts more cheaply, Ursula von der Leyen went further on Wednesday, July 16, by unveiling the EU's next budget cycle for 2028-2034. The President of the European Commission promised to invest some €131 billion in defense, as part of a new competitiveness fund worth some €410 billion in total.

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