The European Commission will for the primary time present financing for the joint procurement of weapons by member states to assist their armies restock and enhance army {hardware} in response to the struggle in Ukraine.
The proposal, unveiled by inner market commissioner Thierry Breton on Tuesday, would give monetary incentives for consortiums of not less than three member states to buy weapons. It seeks to channel the rise in EU defence spending in the direction of co-ordinated procurement and to stop bigger member states from monopolising the continent’s arms corporations.
If permitted by member states and EU lawmakers, the €500mn initiative would mark the primary time Brussels has used EU taxpayer cash to fund joint arms procurement.
Recent Comments