EBN-Italian Finance Minister Giancarlo Giorgetti has expressed concerns about EU Commission President Ursula von der Leyen’s intentions to drastically increase defense spending in the EU commission.
Giorgetti, a League member, warned against making hasty judgments that would result in repeating previous mistakes.
In this regard, he pointed to decisions made during the Corona pandemic, when “mountains of vaccines” were purchased at considerable cost and subsequently destroyed.
Giorgetti emphasized that a carefully planned program of investment in military infrastructure made sense and was not implemented haphazardly, saying, “You don’t go to the store to buy a drone or a hypersonic missile.” There is a need for long-term investments.
In contrast, Italian Foreign Minister Antonio Tajani, who belongs to the Forza Italia party, which is part of the government coalition, described the European Commission’s plans for a massive rearmament programme as “good” within the framework, stressing that it must be followed by practical implementation.
European Commission President Ursula von der Leyen announced in Brussels on Tuesday a five-part “European Re-Armament” plan that will allocate 800 billion euros to cover arms expenses.
The plan, titled “ReArm Europe,” will raise 800 billion euros for arms spending for a safe and resilient Europe, including 150 billion in loans to member states, von der Leyen told reporters in Brussels.
European Commission President Ursula von der Leyen has also proposed suspending strict budget rules to allow bloc countries to increase defence spending.
It is worth noting that the European Union countries largely agree on the need to increase defense spending, however several governments have expressed concerns about the source of funding.
