Europe Plans €500 Billion Defense Fund for Joint Projects Amid Trump's Potential Return

Dec 5, 2024, 01:28 PM

European countries are in discussions to establish a €500 billion defense fund aimed at financing joint defense projects and arms purchasing, according to six officials involved in the talks, as reported by the Financial Times. The initiative comes in anticipation of Donald Trump's return to the White House, with the goal of ensuring self-defense capabilities in a worst-case scenario. The fund, which would be open to participation from the UK and Norway, would be overseen by the European Investment Bank (EIB).