“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.”If agreed by member states, it would be the first significant use of the EU budget for defence, although EU spending is likely to remain dominated by farm payments, road, rail and other infrastructure projects. Sources in Brussels think the defence fund could rise to €1bn after 2021, following an initial €250m outlay in 2020 to kickstart new research projects. The figures have not been finalised and would have to be agreed by EU member states. Although the defence fund plans would not come to fruition until after Brexit, the British prime minister is entitled to take part in the June discussions.

Source: The Guardian June 06, 2017 04:52 UTC