The EU Wants A Defense Fund That Will Be Used To Develop New Military Technologies

Photo courtesy of Flickr user Rock Cohen

The Guardian: EU to outline plan to use funds for defence for first time

Money will pool research into new military technology such as drones and air-to-air refuelling planes

The European Union is mulling a €1bn (£870m) defence fund, as Britain’s impending departure raises hopes of deeper military cooperation in the bloc. The EU’s executive arm will outline plans on Wednesday for a fund to pool research into new military technology, such as drones, air-to-air refuelling planes and cyber-defence systems.

In an implicit challenge to Britain as it heads for the EU exit, the European commission will say that no single EU country – not even the largest – can afford to develop the most costly military equipment alone. “The development of a new generation of many major defence systems is today beyond the reach of a single EU member state,” states a draft paper seen by the Guardian. “‘More Europe’ in defence and security is clearly needed.”

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Update #1: EU to Outline Defense Union Plans Amid Doubts About U.S. Ties (Bloomberg)
Update #2: After years of talk, EU plans defense spending spree (Politico)

WNU Editor: The EU is talking about putting together a defense fund of about €1bn (£870m). What's my take .... I cannot stop laughing. They are actually thinking that this will be enough money to develop new military technologies, such as drones, air-to-air refuelling planes, cyber-defence systems, and God only knows what. Here is my prediction .... this money will disappear in leasing office space, salaries, and travel expenses. As for developing new military technologies .... that is when they will ask for more money.