In Europe “the time has come for decisions”. The blockade must arm himself to improve his safety and, in the defense sector, “we have to do more, do better, do faster and do together”. This is how the President of the European Council, Antonio Costa, summarized the results of the informal retreat organized yesterday (February 3) in Brussels. And to do more and better, trivially, you need money. And where to take them, this money? The leaders of the twenty -seven discussed both of mutual funds and the issue of Eurobond and other tools, but an agreement is not easy to achieve.
Where, however, there have been great openings is on the possibility of sliding military expenses from the stability pact calculations. In the EU “there is a great urgency to increase the expense for the defense, and for this reason they serve more than everything multiple public funds. I am available to explore and I will use the entire range of flexibility that we have in the new stability and growth pact to allow A significant increase in defense expenditure “, assured the president of the Commission, Ursula von der Leyen, at the press conference in Brussels at the end of the informal summit.
The summit, which has been adapted to a “leader’s retreat” format, did not end with the adoption of a text of non -binding conclusions, but still indicated the way to take. “For exceptional times it is possible to evaluate exceptional measures within the stability and growth pact,” said the popular German, with reference to the objectives of the EU to guarantee the sustainability of public finances.
These objectives are mainly linked to two parameters: the containment of the debt below the 60 percent threshold of GDP and the maintenance of the deficit under 3 percent of the GDP. The expenditure for the defense, from 2021 to 2024, increased by 30 percent in the EU, but the 27 countries, with 1.9 percent of the GDP dedicated to military spending, do not exceed the goal established at the born level , equal to 2 percent.
The European Commission could therefore meet the States, such as Italy, who ask that military spending, in part or completely, are not included in the calculation to establish the level of the annual deficit. The move will be proposed on the basis of the belief that “spending billions of taxpayers for defense leads to a return in terms of know-how and quality jobs,” said Von der Leyen to journalists.
The Head of the EU executive has also announced that it wants to deepen the work with the European investment bank to modify its credit concession practices, perhaps widening it even to weapons, with an effect that is expected both in chain even in the sector private banking. “There is a consensus between the Member States on the fact that investments will help peace, prosperity and competitiveness throughout the EU, for the benefit of companies and the creation of new jobs,” said the President of the European Council , Costs.