European Union countries have resumed talks on joint loans to enhance defense economy

On Thursday (20) European Union leaders held a summit to discuss the defense of the bloc and its security after the political transformation of Donald Trump amid the increasing debate on the common debt to finance this initiative.

On Wednesday, the European Commission, the European Union’s executive arm, launched a huge plan to repair the mass, which intends to mobilize up to 800 billion euros (4.93 trillion Rice).

This package includes an initiative on credit lines for 150 billion, but it is not to the point of defending the creation of joint debts, an idea that generates thirsty discussions.

At the end of the summit in Brussels, France President Emmanuel Macron explained his government’s position, although he admitted that the case had not yet reached unanimously.

The agent said: “I am convinced that we will have to provide a joint loan,” adding that “at the present time, the issue is not by mutual consent.”

In turn, the head of government in Germany, Olaf Schools, kept this door closed and repeated his traditional position, unlike regular debts.

“The position of Germany is well known,” he said.

Upon arrival at the summit, the Prime Minister of Latvia Evica Celina said that the ambitious proposal that was launched the previous day is just a “first step”.

“We are open to other discussions on how to find more money,” he added.

Kyriakos Mitsotakis, Prime Minister of Greece, stressed that “we must be more ambitious.”

“I think we should seriously discuss the possibility of a common loan mechanism that provides subsidies to the countries of the mass,” he said.

Meanwhile, the Netherlands Prime Minister, Dick Show, explained a clear opposition from his country to joint debts.

“Our position is inconsistent with Europonos,” he said, referring to the addresses that can support resources.

The document with the conclusions of the summit states on Thursday that the leaders are asking “the acceleration of business (…) to decisively enhance the defense capabilities in Europe.”

The text indicates that “the most powerful and most powerful European Union in the field of security and defense will contribute positively to global and transitional security and is complementary to NATO.”

The plan includes the possibility of relaxation, for a period of four years, the European Union standards so that the two countries can spend them above the permissible limit. The committee estimates that with this mechanism it can collect about 650 billion euros (4 billion dollars).

As part of this program, the European Union urged the blocs to start the process early April.

However, the committee did not recommend a broader joint loan program.

On Wednesday, Kaja Callas, president of the European Union, said the idea is not in the proposal. “However, is this idea completely ignored? I don’t believe it,” he added.

This discussion is on the urgency of strengthening Europe’s ability to defend the new geopolitical reality and doubts about the continuity of the United States in the event of conflict.

Just one month ago, a phone conversation between US President Donald Trump and Russian wife Vladimir Putin suggested that Europe could not continue to rely on Washington’s protection.

Trump and Putin spoke again this week to discuss a potential end of the war between Russia and Ukraine, a dialogue from which Europeans are excluded now.

The severity and frankness of the situation is so large that this Thursday summit was the third that was held on this issue in only six weeks.

The European Union’s decision to provide weapons in Ukraine to defend itself from Russia quickly showed the borders of the European defense industry, prompting the bloc to start a discussion about the urgent need for more investments.