EU Speeds Up Hunt for New Financing After Donald Trump’s Win
- Bloc’s leaders to adopt competitiveness declaration on Friday
- EU needs to fill €800 billion gap in investments, Draghi said
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The European Union will explore new ways to finance massive investments in its militaries and in the development of clean technologies as Donald Trump’s return to the White House has accelerated efforts to boost the bloc’s own defense capabilities and to make its industries more competitive.
The EU “will explore the development of new instruments” to raise funding for future needs, according to the latest draft declaration EU leaders are expected to adopt on Friday during their meeting in Budapest. But the conclusions fell short of identifying fresh funds to cover the bloc’s massive investment gap.