The EU is planning to boost its defense and security expenditures by billions of euros, – Financial Times

The 2021-2027 EU budget, which allocates €392 billion aimed at reducing economic disparities, has seen less than 5% of this funding utilized in recent years.

This was reported by the Financial Times.

Journalists indicate that in the coming weeks, EU member states will be permitted to use funds from this budget to bolster the defense sector, marking a significant shift in how these resources can be applied to support security and military initiatives.

The EU’s 2021-2027 budget, which initially allocated €392 billion to reduce economic disparities across member states, has faced sluggish spending, with less than 5% of these funds being utilized in recent years. However, recent developments suggest that this substantial pool of resources may soon support a broader range of initiatives. According to journalists, in the coming weeks, EU member states are expected to gain approval to redirect portions of this budget toward bolstering the defense sector—a move that would mark a significant policy shift for the EU.

Allowing these funds to be channeled into defense reflects a growing sense of urgency within the bloc to address regional security threats and enhance military capabilities. This flexibility in budget allocation could enable EU countries to reinforce their defense infrastructure, invest in technology, and increase military training capacities without straining national budgets already stretched by other commitments. Furthermore, this shift could serve as a unifying mechanism, fostering greater cooperation and shared strategic interests among member states.

This adjustment in budgetary policy is particularly timely amid heightened security challenges facing Europe, including the ongoing conflict in Ukraine and concerns over regional stability. If implemented, it would mark the first time funds originally earmarked for economic cohesion are redirected on a broad scale to address defense needs, underlining the EU’s evolving stance on security and self-sufficiency. This shift highlights an acknowledgment by the EU of the interconnected nature of economic stability and security, as well as the need for a flexible response to current and future geopolitical challenges.

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