EU must put its economy on ‘war footing’ — Michel
EU member states must take radical steps to prepare for defense and put the EU economy on a "war footing," European Council head, Charles Michel, said in an address to the European Council.
"For decades, Europe has not invested enough in its security and defense,” he said.
“Now that we are facing the biggest security threat since the Second World War, it is high time we take radical and concrete steps to be defense-ready and put the EU’s economy on a “war footing.”
This means spending more and buying more collectively, as well as helping the defense industry gain access to private and public funds, as well as reducing regulatory burdens and other barriers.
Developing a strategic security mindset requires strong leadership and a sharp understanding of the urgency of the threats, he said.
As the EU enters the third year of Russia's aggressive war on Ukraine, it stands at a pivotal moment that demands urgency, intensity, and unwavering determination. That’s why the EU's top priority is to swiftly provide military assistance to Ukraine and expedite the procurement and delivery of ammunition, Michel noted.
The bloc must focus on effectively implementing and enforcing sanctions, as well as advancing efforts to utilize funds from frozen assets, he added.
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