Informal EU Summit: Political Will for Defense – “Thorn” funding

The first step towards its greatest autonomy over defense was made yesterday by European leaders at the informal summit in Brussels, but the “difficult” are ahead, as there will be discussions about the financial factor of the project in the coming months.

Specifically, the Commission estimates that the EU must invest 500 billion euros in the sector over the next decade, so that it can continue to support it, but also to ensure that it is able to defend itself after decades of subcutaneous.

Most importantly, however, all the leaders have recognized the need to develop military skills together, but how far they will reach and what means will be used will depend on internal political developments in many member states.

Leaders have also urged the Commission to consider the potential provided by the Stability and Development Pact to allow the increase in national defense spending, Commission President Ursula von der Layen told reporters after completing the conference.

The Stability and Development Pact also provides that Member States are required to implement a budget policy aimed at maintaining a public deficit below 3% of GDP and debt below 60% of GDP. Failure to do so can lead to a process of excessive deficit (DE) by the Commission and in sanctions, including fines. Eight Member States – Belgium, France, Hungary, Italy, Malta, Poland, Romania and Slovakia – are currently targeted by such a process.

The agenda

The debate, organized by the President of the European Council, Antonio Costa, focused on three main issues: 1) the development of European defense potential, 2) the funding of European defense and the means of Community budget, 3) the deepening of relations with relations with NATO European partners who are not EU members

Politically everyone has shown that they agree in principle, as there were no details on critical issues at this stage, such as funding European defense.

What has been shown by the debate is that the eastern countries, Finland and Sweden, which, due to its neighborhood, feel more than the risk of Russian aggression, are calling for a promoted European defense by the EU.

For example, the three Baltic countries (Latvia, Lithuania, Estonia), along with Poland, submitted a document to the Summit, which proposes direct investments of 100 billion euros through a common lending.

Mitsotakis’ satisfaction

At the same time, returning from the Summit, the prime minister expressed his satisfaction with the widespread acceptance of the two -point proposal with the aim of boosting European defense.

“We want a strong Greece in Europe and a strong Europe for Greece. The time has come to act, “the prime minister said in his post (see above) which detailed as follows:” Returning from Brussels, where with my European counterparts we discussed ways to strengthen our collective defense, I was informed with satisfaction. Statements by European Commission President Ursula von der Laien: The chairman of the Commission has said ready to investigate ways of fiscal flexibility in order to increase defense spending in the context of the Union’s new stability pact.

I was one of the first to support this direction, long before it came to the fore. I recall that I have analyzed it in all European top meetings. And I did the same in my text in the Financial Times before Monday’s informal session, where I again argued that it was time for the common European defense.

With President Tusk, we have even signed a special letter, as early as May 2024, demanding that the single anti -aircraft shield of our continent be funded.

From now on, the road to strengthening European defense is opening up, with more and more forces recognizing its necessity. In a world uncertain and unstable, Europe is called upon to claim its position in terms of security and progress.

And for this to happen, a broader fiscal space is necessary, which will allow Member States to spend on their protection without questioning their financial perspective.
We want a strong Greece in Europe and a strong Europe for Greece. The time has come to act, ”Mr Mitsotakis said in detail.