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European Commission proposes more military investment

European Commission proposes more military investment

Brussels, May 18 (Prensa Latina) The European Commission (EC) proposed today to invest 500 million euros until 2024 in joint tenders to buy military armament.
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This amount would be allocated to the needs of European Union (EU) countries in the short term, which would increase the winds of war in the so-called old continent.

The EC’s argument for such expenditure is based on the conflict in Ukraine, although Western sanctions against Russia still weigh like a boomerang, especially in the field of energy.

A report prepared by the EU High Representative for Foreign Affairs, Josep Borrell, and the EC, presented on Wednesday, highlights shortcomings in the defense industrial and technological base.

Hence the idea of measures in two tranches, in the short and medium to long term, to remedy them. The report notes that the massive arms deliveries to Ukraine led to a lack of capabilities in Europe.

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