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MNI BRIEF: EU Faces EUR900 Bln Shortfall For Defence, Green Transition

(MNI) ROME

The European Union will need EUR900 billion more in public funds than currently allocated for its green and digital transitions and to boost defence spending, a blog published by the European Central Bank said on Thursday.

The authors estimate that EUR5.4 trillion in investment will be required in this period, mainly coming from private capital. Public investment needs total EUR1.3 trillion, with just  under EUR400 billion available from existing EU resources.

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The European Union will need EUR900 billion more in public funds than currently allocated for its green and digital transitions and to boost defence spending, a blog published by the European Central Bank said on Thursday.

The authors estimate that EUR5.4 trillion in investment will be required in this period, mainly coming from private capital. Public investment needs total EUR1.3 trillion, with just  under EUR400 billion available from existing EU resources.

Keep reading...Show less