EU Backs German Push to Look at Easing Fiscal Rules for Defense
- Summit backs Germany’s call after its U-turn to boost military
- EU is working to mobilize trillions of euros in defense funds
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The European Union agreed to begin discussions on a long-term reform of its fiscal rules to allow member states to spend more on defense, following a push from Germany.
EU leaders meeting in Brussels Thursday called on the European Commission, the bloc’s executive arm, “to explore further measures” with regard to the so-called stability and growth pact, according to a text of the summit conclusions seen by Bloomberg. The leaders also backed a commission proposal to suspend temporarily the restrictions on defense spending.