European leaders propose £100 billion defense fund

Senior European military and political leaders are advocating for a £100 billion Defence Security & Resilience (DSR) bank to support rearmament in Europe and the UK. This initiative has gained backing from influential figures, including former NATO officials. The European Parliament recently endorsed a white paper encouraging member states to support the DSR bank. The proposal aims to provide low-interest loans for defense spending over extended periods. The joint letter highlights that democratic allies are facing significant security challenges, the most serious since the Cold War. The initiative is led by Rob Murray, a former NATO official, and supported by notable figures like Lord Stuart Peach and former US Senator Richard Burr.