{"id":53826,"date":"2024-06-28T17:43:46","date_gmt":"2024-06-28T07:43:46","guid":{"rendered":"https:\/\/abnews.com.au\/?p=53826"},"modified":"2024-06-28T17:43:46","modified_gmt":"2024-06-28T07:43:46","slug":"eu-chief-estimates-eu-defence-needs-at-500-bn-euros","status":"publish","type":"post","link":"https:\/\/aglowmedia.com.au\/?p=53826","title":{"rendered":"EU chief estimates EU defence needs at 500 bn euros"},"content":{"rendered":"<p><strong>EU chief Ursula von der Leyen told leaders Thursday that the bloc needs to invest 500 billion euros ($535 billion) in the next decade to bolster its defences.<\/strong><\/p>\n<p>European Union countries are pushing to ramp up their defence industries and rearm their militaries in the face of Russia&#8217;s invasion of Ukraine, after years of underinvestment.<\/p>\n<p>&#8220;We estimate that additional defence investments of around 500 billion euros are needed over the next decade,&#8221; von der Leyen said.<\/p>\n<p>The head of the EU&#8217;s executive did not, however, provide a detailed breakdown of what her projected sum covered.<\/p>\n<p>&#8220;We didn&#8217;t see spreadsheets, we didn&#8217;t see details, this is pie in the sky money,&#8221; an EU diplomat said.<\/p>\n<p>There is also no clarity as yet on how the EU would finance the investment &#8212; with options being mooted including national spending or joint EU defence bonds.<\/p>\n<p>There is a standoff over whether the EU should consider joint borrowing, similar to how it financed its recovery programme after the Covid pandemic.<\/p>\n<p>&#8220;Several countries, including France and Estonia, are in favour of eurobonds,&#8221; an EU official said. &#8220;But Germany and the Netherlands are against.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EU chief Ursula von der Leyen told leaders Thursday that the bloc needs to invest 500 billion euros ($535 billion) in the next decade to bolster its defences. European Union countries are pushing to ramp up their defence industries and rearm their militaries in the face of Russia&#8217;s invasion of Ukraine, after years of underinvestment. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":53827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1848],"class_list":["post-53826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english","tag-eu-chief-estimates-eu-defence-needs-at-500-bn-euros"],"_links":{"self":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts\/53826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53826"}],"version-history":[{"count":0,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/wp\/v2\/posts\/53826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aglowmedia.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}