Latest news with #EuropeanDefenceIndustryProgramme
United News of India
2 days ago
- Business
- United News of India
EU redirects 335 billion Euros of Covid relief money to defence projects
Brussels, June 5 (UNI) The European Union will redirect 335 billion euros from the Resilience and Recovery Facility (RRF), which was established for COVID relief, to defence projects, after receiving permission from the European Commission. According to Politico, the Commission, while declaring the amount to be eligible for defence expenditure, said that countries have until August 2026 to meet the certain agreed targets in order to receive the funds. On Wednesday, the body told countries that defence projects under common EU plans such as the satellite communication programmes were now eligible. The European Commission has called for lawmakers and governments to include in the European Defence Industry Programme (EDIP) regulations - a provision to make it possible for countries to use the recovery money - to make contributions to the defence fund. 'These alternatives could help the Recovery Facility to deliver additional important benefits from common European priorities, including in the areas of security and defense,' Economy Commissioner Valdis Dombrovskis told reporters, listing a large number of ways in which countries can redesign their plans. This move signals a significant shift in Europe's priorities since the pandemic, as the Russia-Ukraine war has both greatly impacted the European economy, as well as led to most of the EU stand with Ukraine and become increasingly hostile towards Russia, necessitating its need for greater defence spending to ensure it security, as well as the advancement of its weapons and arms industry. The idea behind the initiative is, that if a country diverts RRF-backed money to make contributions to the EU's target plans, then it can easily secure the required funds. When asked how defense investments can contribute to the RRF's green and digital goals, Dombrovskis said the current rules provide no specific treatment for defence-related measures. However, there is no clear consensus on the issue, as several countries which include Spain and Italy - the top beneficiaries of the funds - have asked for the postponement of the 2026 deadline. Additionally, the EU executive has also rejected the idea, meaning that a deal has to be reached between countries and then ratified by 20 parliaments, a process that would not only add considerable time to the initiative, but could outright stall it for a very long and uncertain time. UNI ANV PRS
Budapest Times
27-03-2025
- Business
- Budapest Times
MEPs: No decision can be made on Ukraine's EU accession without Hungarians' say
Fidesz MEPs called for "using every means to oppose the openly expressed objective of Brussels to artificially accelerate Ukraine's EU accession through defense industry integration". The MEP group of the ruling Fidesz-Christian Democrat alliance said on Tuesday that no decision can be made on Ukraine's accession to the European Union without Hungarians having a say in the matter. In a statement, the MEPs called for 'using every means to oppose the openly expressed objective of Brussels to artificially accelerate Ukraine's EU accession through defense industry integration', adding that they have submitted their amendment proposals to the European Commission concerning the European Defence Industry Programme (EDIP). The statement noted that the goal of the EDIP is to bolster Europe's defence capabilities through boosting defence industry investment, financial support and deepening defence industry cooperation among member states. Fidesz's MEPs added that Brussels also wanted to use the proposal to 'immediately integrate Ukraine into the European defence industry system' and had 'openly stated' that this was necessary in the interest of speeding up the country's EU accession. The statement cited Fidesz MEP András Gyürk as saying that the proposal 'clearly proves that there is a strong intention in Brussels to quickly admit Ukraine'. He said the EC, the European People's Party and the Socialists — backed by Hungary's opposition Tisza and Democratic Coalition parties — were 'practically treating Ukraine like a member state in this programme'. 'But there can be no decision taken on this without asking the Hungarian people,' he added. 'Therefore, we … have proposed that the scarce resources of EU defence policy should be kept in the EU instead of going to Ukraine,' Gyurk said. 'We cannot allow them to push our citizens into debt over arming Ukraine,' he said, adding that Fidesz and the Christian Democrats rejected a proposal put forward by the EPP and the Socialists to send another 5 billion euros to Ukraine that would be financed from a joint EU loan not even taken out yet.
