"We will propose to activate the national safeguard clauses of the Stability Pact to support defence," said the president of the EU Commission, Ursula von der Leyen, in a press statement.
"If member states increased their defence spending by 1.5% of GDP on average, this could result in a fiscal space of around 650 billion euros over four years," she noted.
The EU will then "provide 150 billion euros
in loans to member states for defence investments," for a total
of 800 billion.
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