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Free AccessCOM Presents Defence Industrial Strategy; EUR1.5bn Mobilised Immediately
The European Commission has presented its first-ever 'Eureopan Defence Industrial Strategy' (EDIS) that includes "an ambitious set of new actions to support the competitiveness and readiness of its defence industry." The press release can be found here, and a Q&A sheet here. EDIS has been long-awaited by those who have sought to see the EU increase its presence on the international security stage after decades of loose EU action when it comes to collective defence.
- There are those with reservations, though. One group are the 'frugals', concerned about runaway EU budgets. With talk of a massive EUR100bn defence fund, this would require joint borrowing that would cause significant concern among Germany, the Netherlands and Nordics.
- The other group with concerns are anti-federalists, concerned about the prospect of a Brussels power grab on an area that historically has come under the purview of national capitals. The Commission has sought to calm concerns regarding an 'EU army', emphasising the EDIS' focus on joint military procurement. Nevertheless, even this would represent one of the most significant incursions of EU institutions into national defence decision-making to date.
- As part of EDIS, the European Defence Industrial Programme (EDIP), the Commission has mobilised EUR1.5bn of the EU budget over the period 2025-2027 to bolster the EU's defence industrial base.
- While not as headline grabbing as the full confiscation of frozen Russian assets proposed by some, as part of the EDIP the Commission formalises the prospect (subject to Council approval) that some of the windfall profits from the frozen assets could be used to purchase arms for Ukraine.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.