EU leaders are meeting for an emergency summit in Brussels and are expected to endorse the €800 billion “Rearmament of Europe” plan outlined by European Commission President Ursula von der Leyen earlier this week.
“Europe must become more sovereign, more responsible for its defense, and better equipped to respond autonomously to current and future challenges and threats,” the draft conclusions read, The Guardian reported.
Von der Leyen has proposed a €150 billion loan scheme to help member states jointly purchase pan-European weapons, as well as easing EU fiscal rules to help governments finance up to €650 billion in potential additional defense spending without facing fines from the European Commission, among other measures.
