The European Investment Bank (EIB) has agreed on a series of measures to further boost investment in security and defence, as well as in critical raw materials.
European Committee | “Escape clause” for Defence Spending
Defence Redefined
14/02/2025
European Union countries will be able to significantly increase their defence spending, according to a plan announced by the President of the European Commission, Ursula von der Leyen.
Speaking at the Munich Security Conference, von der Leyen stated that she aims to activate an escape clause, which would provide governments with greater leeway.
Military spending will not count towards the tightly controlled budget deficit limits, but it will be permitted in a controlled and conditional manner, she added.
The measure would allow governments to significantly increase defence spending without violating EU budget rules.
Over-indebted European countries such as Italy and Greece, have supported this option, saying it would enable them to increase defence spending without having to make other budget cuts, Politico notes.
Von der Leyen had previously considered this option during a closed-door meeting with EU leaders last week.
Also read: European Defence Fund | Announcement of the 2025 EDF Work Programme
READ MORE
European Union | Joint White Paper for European Defence Readiness 2030
Yesterday, the High Representative for Foreign Affairs and Security Policy and the European Commission presented a White Paper…
Libya | Announcement of Licensing Round for Exploitation of Energy Resources
Libya has officially announced its first oil and gas licensing in 17 years, offering 22 areas for international auction.
RECENTLY
Massive Ancient Greek Defensive Wall Unearthed in Croatia
An ancient Greek defensive wall, dating back at least 2,000 years, has been uncovered near the Adriatic coast of Croatia, the…
Leonardo | PRS Receiver Achieves First Certification for Defence and Emergencies Throughout Europe
eonardo has designed, developed, and built the only receiver specifically conceived for the ultra-secure Public Regulated Service (PRS)…
The first photos of the new H145M helicopters of the National Guard of Cyprus
HCDI | Notice of Calls to Expressions of Interest
Today, the following calls for expressions of interest have been published on the Hellenic Centre for Defence Innovation (HCDI) website…
SEKPY | Welcomes the Decision of the Ministry of Defence for a Greek Participation Rate of 25% in Armament Programmes
The Hellenic Manufacturers of Defence Materiel Association (SEKPY) welcomes with particular satisfaction the decision of the Minister of National Defence, Mr Nikos Dendias, to…
“Ark of National Remembrance” | Unveiling of the New War Memorial at the Ministry of Defence
Impressive images have emerged from the Ministry of National Defence (MoD), where today, Wednesday, 26 March, the unveiling of the “Ark of National Remembrance”…
