The European Union has decided to invest enormously in its own arms industry. According to Chancellor Christian Stocker (ÖVP), Austria intends to participate in the defense of the continent. The Republic will probably put more money in the army in the future.
Austria will take a look at planned EU instruments for financing the expenditure for increased armament and “wherever it suits us”. Chancellor Christian Stocker (ÖVP) said on Thursday before the EU top in Brussels.
In particular, the intended exceptional clauses in the EU debt rules are essential for Austria. In any case, a contribution to Europe’s defense capacity will be made “within the framework of neutrality”.
At the same time, the Chancellor confirmed the goal of raising the defense expenditure to two percent of gross domestic product (GDP) by 2032. With a view to the Ukraine conversations between the US and Russia, Europe should not make itself smaller than it is, Stocker continues. The EU could make a “good and essential” contribution to these discussions.
EU plan makes new debts possible
At the beginning of March, the EU State Cools and the Government had already welcomed the committee at a special top to mobilize the 800 billion euros for upgrading projects. With its “Renk Europe Plan”, the Commission wants to allow EU countries to make new debts for their defense without risking an EU deficiency procedure.
Moreover, a new EU fund with 150 billion euros is planned for loans for defense investments. This can make the Member States together, for example air and missile weather systems, artillery systems, missiles, ammunition, drones of cybera weather systems.
The Commission now proposes that from 2025 about 1.5 percent of the economic output can be spent on the defense for a period of four years without a Lidland having a shortage procedure. According to Maastricht’s criteria, this is initiated when the budget deficit is more than three percent of GDP.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
