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MNI BRIEF: Defence Costs May Need EU Joint Funding: Gentiloni

(MNI) LONDON
(MNI) Brussels

Funding increased defence spending may require new joint EU funding, Economy Commissioner Paolo Gentiloni said Tuesday.

“Financing them (higher defence expenditures) will require a supportive framework of fiscal rules and potentially new joint funding mechanisms at European level,” Gentiloni said in a speech in Romania today.

The commissioner also reiterated that this year’s EU forecast for 4% EU growth would have to be revised down due to the impact of Russia’s invasion of Ukraine.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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