Pushing Concrete Ideas for Europe's Defense Funding

With heightened security concerns due to Russia's actions in Ukraine, the European Union is urged to focus on specific defense financing strategies. German Finance Ministry's Joerg Kukies advocates for tangible methods over abstract talks on Eurobonds at a finance ministers' meeting in Brussels.

In Brussels, the German Finance Ministry's Joerg Kukies emphasized the need for the European Union to discuss concrete strategies for defense funding instead of engaging in abstract dialogues about European defence bonds.

Kukies' remarks come amidst growing concerns about European security following Russia's invasion of Ukraine, prompting calls for increased defense spending across the continent.

Germany remains cautious about joint EU borrowing to fund defense, suggesting instead specific mechanisms like the European Peace Facility and enhanced roles for the European Investment Bank.

(With inputs from agencies.)