EU’s Frontline Nations See €100 Billion in Urgent Defense Needs
- Defense investment should tap joint borrowing, four states say
- Group of nations bordering Russia are leading spending push
Mortar shells on the production line at a ammunition factory in Bydgoszcz, Poland.
Photographer: Damian Lemański/BloombergThis article is for subscribers only.
The European Union must double its defense spending as it faces at least €100 billion ($104 billion) of immediate investment needs, according to four member states that border Russia.
A paper prepared by Lithuania, Estonia, Latvia and Poland calls for the EU to harness joint borrowing, enable the European Investment Bank to spend on core defense needs and work with European partners outside the bloc, an apparent reference to the UK.