The EU is planning to borrow €150 billion on the financial markets for its new lending instrument Security Action for Europe (SAFE). It is one of the pillars of the Readiness 2030 plan, which aims to mobilise €800 billion for defence investment by the end of the decade.
"Russia's war in Ukraine and the EU's attempt to support Kyiv really highlighted the dependencies and shortcomings of the EU's defence industrial base and how ill-prepared we were in the event of being forced into a conventional war," said Alice Tidey, a Euronews reporter who covered the announcement.
