The EU needs to invest €500 billion over the coming decades to shore up its defence and kickstart its defence industries but member states remain divided over what and where to buy crucial equipment and how to finance it all.
EU leaders will on Monday convene in Brussels to start thrashing out a common strategy to shore up Europe’s defence and how to finance it as massive gaps in thinking still remain.
It’s in the 16th century neoclassical Palais d’Egmont, in central Brussels, and not in their usual haunt in the European Council that leaders will gather in the morning for an informal retreat meant to give them the space to have frank and open discussions for their first ever summit dedicated solely to defence.
To further help loosen leaders’ tongues, no joint conclusions are to be expected at the end of the meeting, which will also be attended over lunch by the Secretary General of the NATO military alliance, Mark Rutte, and over dinner by Britain’s Prime Minister, Keir Starmer.
In between, the 27 EU leaders will discuss transatlantic relations and European defence with two key issues top of the agenda: which military capabilities the EU should spend cash on as a matter of priority; and how to finance the development and acquisition of these capabilities.