EU leaders agree to step up defense efforts.
European Union (EU) leaders agreed on February 4th that they need to do more to bolster their defenses against threats from Russia and other threats, through increased spending and filling gaps in military capabilities.
Festivalsummit on defense
"Much has been done, but we need to do more. We need to do better, stronger, faster – and we need to do it together," said Antonio Costa, President of the European Union Council, after the defense summit in Brussels.
However, leaders have yet to provide a clear answer to the question of how the increased defense spending plan will be financed.
European nations have increased their defense spending in recent years, in response to the conflict in Ukraine and with a growing awareness that they cannot be overly reliant on the US to protect the continent in the years to come.
Their efforts were driven by questions about U.S. President Donald Trump's commitment to the NATO security alliance and his demands for European nations to spend more on the continent's defense.
The opening of the EU summit was overshadowed by Trump's announcement over the weekend that he would soon impose tariffs on EU imports, after having already ordered similar measures on goods from Canada and Mexico (but postponed on February 3) and from China.
Costa told reporters that EU leaders had agreed to focus on filling key gaps in their defense capabilities, such as air and missile defense, missiles, ammunition, and military transport.
These leaders discussed ways to fund such priorities but failed to reach a detailed agreement. However, the European Commission agreed to seek flexibility in the regulations it oversees regarding EU national public finances to make defense spending easier.
"Europe fundamentally needs a defense boost. And to do that, our defense industrial base must be strengthened," European Commission President Ursula von der Leyen told reporters after the summit.
"For many years, we have underinvested in defense. Therefore, there is a great urgency to significantly increase defense spending," she added.
NATO Secretary General Mark Rutte and British Prime Minister Keir Starmer also participated in the discussions in Brussels.
Increase spending
Last year, according to EU estimates, EU countries spent an average of 1.9% of their GDP on defense, or about 326 billion euros (334.5 billion USD) - a 30% increase compared to 2021.
However, many EU leaders have indicated they will need to spend even more. The EU Commission, the EU's executive body, estimates the bloc may need to spend an additional 500 billion euros over the next decade to fill key gaps in Europe's defense capabilities.
US President Trump has said that European NATO members should spend 5% of their GDP on defense – a figure that no member state of the alliance, including the US, has reached.
Ms. Von der Leyen and Mr. Costa stated that the EU has several potential defense financing options, including national spending, an expanded role for the European Investment Bank, and private equity.
Leaders have avoided publicly answering the politically sensitive question of whether the EU should issue common debt to finance defense spending.
