EU explores joint defence funding as US commitment wavers

11/3/2025 6:20

European Union finance ministers on Monday began discussing how to pay for defence through new joint borrowing, existing EU funds and a greater role for the European Investment Bank, with a view to taking decisions in June.



The ministers' talks follow a meeting of European leaders last Thursday after U.S. President Donald Trump froze U.S. military aid to Kyiv and raised doubts about Washington's commitment to European allies.



Polish Finance Minister Andrzej Domanski, who chairs the discussions, said that summit had confirmed the "absolute political will to make Europe more responsible for its own security and to find money for a huge re-arming of Europe".



The ministers will work on a European Commission proposal for the EU to raise 150 billion euros ($163 billion) against the security of the EU budget, for loans to governments for joint defence projects - an arrangement Germany was quick to support.