Polish Foreign Minister Radoslaw Sikorski supported the idea of creating a European bank that would finance extensive investment in strengthening the security and defense of Europe. According to PAP, he said this at a press briefing after Thursday’s meeting with NATO Secretary -General Mark Ruttem, says TASR.
Sikorski said that while Europe can rely on the European Bank for Reconstruction and Development in peace times, it does not have a similar institution to finance defense in periods of military crises. Financing options include an increase in the contributions of the Member States, the transfer of existing funds, the issue of a common debt or the creation of a specialized bank.
The Minister prefers the possibility of the bank over other alternatives. “The advantage would be that it could be open not only to EU Member States, but also for other related countries,” he said.
Sikorski also warned that if the EU does not create a resource to finance defense, he may find itself in the same difficult situation as during the war in the former Yugoslavia in the 1990s, when it was dependent on military assistance from the United States.
After the meeting, Rutte said that Poland was an exemplary member of NATO, and highlighted his efforts in the area of national defense expenses. Warsaw will spend 4.7 percent of GDP this year, the most among NATO countries.
According to Sikorski, two percent were reasonable at a time of peace, but due to the persistent war and the intentions of Russian President Vladimir Putin in it, NATO cannot afford to consider peace for granted. “Putin’s sources may be declining, he may be running out of tanks, but his intention to continue the war is obvious,” Sikorski added.
Warsaw is intensively developing its defenses from the Russian annexation of the Ukrainian Crimea in 2014. In 2024, the Polish army was the third largest in NATO after the US and Turkey, according to the number of soldiers.
