Munich Security Conference: EU prepares a 60 billion plan for the defense industry
Against the backdrop of the Munich Security Conference, the main topic has become European initiatives to strengthen defense capabilities and support Ukraine. European Commission President Ursula von der Leyen called for the activation of joint efforts.
“The European Union must embrace this mantra,” she said.Von der Leyen also noted:
“Let’s activate the EU treaty on collective defense. And let’s launch a pan-European military-industrial complex”.
One of the key instruments is to be a plan of 60 billion euros for the military-industrial complex, which prioritizes European and Ukrainian armaments. This is taking place against the backdrop of initiatives such as the Czech procurement of 2 million 155 mm shells. However, the European defense industry faces challenges, including:
- Germany supplying heavy infantry fighting vehicles Puma weighing 43 tons;
- Italy set to receive only four such units by the end of the year;
- At the same time, the development of advanced systems, such as the SAMP-T modification, is ongoing.
Financial support for Ukraine remains critical. Ukraine's budget deficit for the current year is 65 billion euros, and over the past six months, the country has missed 12 payments, two of which are mandatory. In a political context, President Volodymyr Zelensky, recalling his interview from last year, emphasized:
“I am younger than Putin, so bet on me. I have more prospects”.
Discussions at the conference also touched on assessing defense potentials and the divergences in approaches between the EU and the USA regarding future security architecture.