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MNI: European Commission Lowers Defence Ambition As Far Right Gains

MNI anticipates a European Commission present paper on joint EU defence funding.

A European Commission options paper on joint funding for defence to be submitted to the June 27-28 EU summit will scale back its ambition following far-right gains in European parliamentary officials, sources with knowledge of talks told MNI.

While it is still expected there will be language in the summit conclusions asking the European Investment Bank to "step up" lending to the defence sector, this will not go beyond the expanded definition of dual-use technologies which the EIB can already finance, and draw on EUR6 billion remaining in its Strategic European Security Initiative, the sources said.

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A European Commission options paper on joint funding for defence to be submitted to the June 27-28 EU summit will scale back its ambition following far-right gains in European parliamentary officials, sources with knowledge of talks told MNI.

While it is still expected there will be language in the summit conclusions asking the European Investment Bank to "step up" lending to the defence sector, this will not go beyond the expanded definition of dual-use technologies which the EIB can already finance, and draw on EUR6 billion remaining in its Strategic European Security Initiative, the sources said.

Keep reading...Show less