FinancePoliticsWar Greece calls on the EU to determine a €100B fund for its protection. Tuesday, February 4, 2025

Greek Prime Minister Kyriakos Mitsotakis, whereas getting ready for a brand new EU protection technique, has proposed making a fund of at the very least €100B for the EU’s total protection funds. Mitsotakis’ proposal follows per week after Lithuania, Estonia, Latvia, and Poland ready a doc urging the bloc to collectively elevate €100B. They warned that Russia has already begun to bolster its army and is producing 200% extra artillery than Europe and the US mixed. “If our union desires to stay a pillar of peace and stability, we should set up a cohesive and dependable deterrent. We should not waste time,” Mitsotakis stated. The European Fee estimates that a further €500B funding in protection will probably be required over the following decade. The Greek Prime Minister believes that this isn’t solely a necessity but additionally a possibility to make sure European strategic autonomy. Nevertheless, this requires collective motion on two fronts: securing a steady financing mannequin for elevated protection spending and implementing adjustments in Europe’s protection business.