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Poland on defence spending: autonomy comes with a strong army
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2025-02-06 23:55:09
Poland's Proposal for a European Defense Fund
Poland has put forth a bold initiative to establish a 'rearmament bank,' aimed at enhancing the European Union's defense capabilities. This bank, modeled on the European Bank for Reconstruction and Development, seeks to raise substantial funds to address the EU's pressing need for 500 billion euros.
Open to like-minded nations, it presents a voluntary option for participation. A significant component of this proposal involves utilizing approximately 210 billion euros in frozen Russian assets to facilitate loans for Ukraine.
However, concerns have been raised by European Central Bank President Christine Lagarde regarding the potential repercussions of asset confiscation. Meanwhile, EU leaders like António Costa advocate for increased defense spending and a reevaluation of collective debt approaches, despite resistance from certain member states.
This proposal reflects a growing recognition among European nations of the necessity for a robust defense strategy in the face of escalating geopolitical tensions.
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sueddeutsche
European Union: EU Council President António Costa calls for more money for European defense
Politics
Economy
EU Council President Costa is calling for a massive increase in defense spending by 500 billion euros over 10 years, discussing a relaxation of EU budget rules and joint debt, but is facing resistance from Chancellor Scholz and the frugal countries, who also have constitutional concerns. However, some countries are changing their stance in view of the threat from Russia, and Costa sees the solution in a mix of national and European measures.
EuroNews
Poland pitches rearmament bank to boost Europe's defence spending
Politics
Economy
Poland proposes a "rearmament bank" to boost EU defence spending; the bank could be modeled on the EBRD, funded by confiscating €210 billion in frozen Russian assets, and open to non-EU members like Norway, the UK and Japan.
EuroNews
Poland's 'bank' proposal to increase Europe's defense spending
Politics
Finance
Polish Foreign Minister Radoslaw Sikorski proposed the idea of a 'rearmament bank' to increase the European Union's defense capacity and deter 'Russian aggression'. The bank could follow the model of the European Bank for Reconstruction and Development (EBRD) and could also be open to non-EU countries such as Norway, the United Kingdom and Japan.
EuroNews
Polen schlägt einen "Rüstungsbank" vor, um die europäischen Verteidigungsausgaben anzukurbeln
Politik
Wirtschaft
Polen schlägt die Schaffung einer "Rüstungsbank" vor, um Mittel für den Ausbau der Verteidigungsfähigkeiten der EU aufzubringen. Diese Bank würde dem Modell der EBWE, einer internationalen Initiative mit Sitz in London, die in Entwicklungsprojekte investiert, folgen. Die EU benötigt in den nächsten zehn Jahren zusätzliche 500 Milliarden Euro, um die Rüstungsproduktion zu steigern und ihren Verteidigungsbedarf zu decken.
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