Reuters reported on the approval by the EU countries of the creation of a militarization fund

The countries of the European Union (EU) have agreed on the creation of the fund "Actions for Security in Europe" (SAFE), aimed at strengthening the defense of territories, for € 150 billion. This was reported on May 19 by the Reuters news agency, citing an unnamed European diplomat.

It is specified that the initiative was proposed by the European Commission (EC).

"The plan <... It will be financed through joint borrowing and the provision of loans to EU members and some other countries, such as Ukraine, for projects that will strengthen their defense capabilities and stimulate the European military industry," the publication says.

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On May 17, Roberto Cingolani, the head of the Italian engineering holding and Leonardo defense contractor, called on the EU to achieve the creation of a single defense space. He stressed that the European continent is too destroyed in the context of the defense complex.

On May 6, the online publication EurAktiv reported on an appeal from 14 of the 27 EU countries to the European Commission with a request to provide budget breaks in order to increase defense spending. According to the portal, this situation raises concerns that Brussels' plan to rearm by 800 billion euros over the next five years will fail.