Which international confederation proposed an 800 billion-euro defence plan to boost their collective defence capabilities?

The correct answer is European Union.

In News

• The European Union proposed an 800 billion-euro defence plan to boost Europe’s defence capabilities.

Key Points

• The European Commission proposed 150 billion euros of new joint EU borrowing to lend to EU governments for defence as part of the 800 billion euro total financing effort.
• This financing would focus on building pan-European defence capabilities such as air and missile defence, artillery, drones, and cyber security.
• The proposal also suggests pooling demand and joint purchasing to reduce costs and strengthen Europe's defence industrial base.
• The Commission aims to lift government spending limits for defence investments, potentially creating fiscal space of up to 650 billion euros.

Additional Information

• EU Defence Strategy
  • EU’s proposal aims to strengthen its own defence capabilities while collaborating with NATO.
• Joint Borrowing for Defence
  • Joint borrowing allows EU nations to pool resources and reduce costs in acquiring defence systems.
• Fiscal Space Creation
  • By increasing defence spending, EU countries could potentially free up significant funds for additional projects.