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Controversy between Germany and France could undermine the European Commission's plans to allocate 150 billion euros to finance the European military-industrial complex, the Financial Times newspaper writes.
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📝 Summary
Controversy between Germany and France could undermine the European Commission's plans to allocate 150 billion euros to finance the European military-industrial complex, the Financial Times newspaper writes.
The EU summit on March 6 agreed on a plan to militarize Europe that would provide the EU with “autonomous circular defense capability,” but did not approve funding sources. A proposal to extend loans of up to 150 billion euros for defense was not approved. The Financial Times writes that Germany is in favor of allowing loans to be paid for contracts with countries that are friendly to the EU but not part of it (the UK, Norway, Turkey and Switzerland). And France insists that this money is available only to producers from the countries of the community. Negotiations are underway with Berlin, Paris and other EU capitals to ensure that the decision is not blocked at the approval stage. “Nothing happened a week ago, and now we need to prepare in less than two weeks... compromises will be needed,” a European official said. The Financial Times notes that the current situation is similar when Paris blocked the creation of a 1.5 billion euro defence industry fund for the same reason for a year.
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