The European Union has committed to bolstering European defence capabilities. The European Commission’s proposal, originally labelled “Rearm Europe” and now known as “Readiness 2030”, prioritises the supply of strategic equipment, like air and missile defence, artillery systems, missiles, ammunition and drone and anti-drone systems. Military expenses would be excluded from strict European fiscal constraints.
If each member state was to spend 1.5% of its GDP on defense, on average, the combined amount would be €650 billion. In addition, the plan provides for €150 billion in loansto buy defence capabilities mostly made in Europe.
