Von der Leyen presents EU rearmament plan

European Commission President Ursula von der Leyen has presented a five-step plan to rearm the European Union and support Ukraine. She emphasized that Europe’s security is under threat and that “more must be done.“

“The real question in front of us is whether Europe is prepared to act as decisively as the situation dictates and whether Europe is ready and able to act with speed and with the ambition that is needed,” the head of the EU’s executive branch said.

She had sent a letter detailing the plan to European leaders ahead of the March 6 EU summit that is taking place in Brussels.

The first step involves allocating public funds to strengthen national defense. 

EU countries are prepared to increase defense investments, and the plan proposes bypassing rules that limit spending, allowing for greater defense funding without violating EU financial regulations, von der Leyen explained.

The second step calls for the creation of a new instrument to offer EU countries loans for defense investments, including air defense systems, artillery, missiles, ammunition, drones, electronic warfare technologies to combat drones, and joint procurement efforts.

“With this equipment, member states can massively step up their support to Ukraine. Immediate military equipment for Ukraine,” she said.

The third step involves using the EU budget to fund defense investments. 

The remaining two points focus on expanding the investment market and leveraging the European Investment Bank.

“Europe is ready to assume its responsibilities,” von der Leyen said.

The approval process for the plan will involve discussions within European institutions, including the European Commission, the European Council, and the European Parliament.

The initiative’s approval will require support from a majority of member states and relevant EU institutions.

The emergency summit of EU leaders on March 6 is expected to focus on shaping a new security architecture for the EU.

Meanwhile, EU countries are negotiating the confiscation of 200 billion euros worth of Russian assets, according to the Financial Times. 

France and Germany, which have long opposed the full seizure of Russian assets held within the EU, are now discussing possible ways to use them with the UK and other nations.