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Updated · Bloomberg · Jun 15EU, France to Sign €15.1 Billion Defense Loan Deal Under €150 Billion SAFE Program
3 articles · Updated · Bloomberg · Jun 15Summary
- Wednesday’s agreement will provide France with a €15.1 billion EU defense loan, according to people familiar with the matter.
- The financing comes from the European Commission’s SAFE program, which is designed to speed defense spending and joint procurement across the bloc.
- SAFE aims to mobilize €150 billion in total, making the France deal an early test of the EU’s push to expand shared defense funding.
- A European Commission spokesperson declined to comment on the planned signing.
Insights
Can EU loans overcome the national interests that have fractured European defense for decades? With defense spending soaring, why are Europe's military stockpiles still below pre-war levels? Is Europe’s military buildup a step toward autonomy or a bid to keep America engaged?