EU countries agree on big defence fund, diplomat says
Tweet
Share
E-mail
FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo
BRUSSELS (Reuters) -EU countries have in principle agreed on the proposals for a 150 billion euro ($168.3 billion) fund aimed at boosting Europe's defence, known as Security Action for Europe (SAFE), an EU diplomat said on Monday.
The plan, proposed by the European Commission in March, will be financed through joint borrowing and give loans to EU members and certain other countries such as Ukraine for projects that bolster their defences and boost Europe's arms industry.
($1 = 0.8913 euros)
(Reporting by Jan Strupczewski and Bart Meijer;Editing by Sudip Kar-Gupta)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Peace through strength, Taiwan president says on China battle anniversary
- Paramount and California to hold preliminary talks on Warner Bros deal, NYT reports
- Motor racing-Milei puts himself in the driver's seat to bring F1 back to Argentina
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
