EU finance ministers to discuss joint fund to buy and own defence gear

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EU finance ministers to discuss joint fund to buy and own defence gear

EU finance ministers to discuss joint fund to buy and own defence gear

^{Published on 2025-04-06 23:20:42 - Reuters}

European Union finance ministers will discuss this week the setting up of a joint intergovernmental defence fund that would buy and own defence equipment, and charge members a fee for its use, a paper prepared for the ministers' discussions showed.

On April 7, 2025, EU finance ministers convened to discuss the establishment of a joint fund aimed at enabling the European Union to purchase its own defense equipment, a move intended to bolster the bloc's defense capabilities amidst ongoing geopolitical tensions. The proposal, which is part of broader efforts to enhance the EU's strategic autonomy, would see member states contributing to a collective pot used to procure military hardware, thereby reducing reliance on external suppliers like the United States. The discussions come at a time when the EU is seeking to strengthen its defense industry and respond more effectively to security challenges, with some ministers expressing support for the initiative while others raised concerns about the financial implications and the need for a clear governance structure.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/aerospace-defense/eu-finance-ministers-discuss-joint-fund-buy-own-defence-gear-2025-04-07/ ]