EU launches $840 billion defense spending initiative

cbsnews.com

The European Union has announced a new defense plan called "ReArm Europe," which will provide $840 billion for military spending. This plan allows EU countries to increase defense budgets without facing penalties for budget deficits and includes loans of about $158 billion. The announcement follows U.S. President Trump's decision to suspend military aid to Ukraine, which was made without consulting NATO allies. European leaders expressed concern over this move, emphasizing the need for stronger defense measures in light of Russian aggression. EU leaders are set to discuss these proposals at an upcoming summit. The plan aims to enhance military cooperation among member states and strengthen Europe's defense capabilities.


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