Over half of EU countries push for emergency measures to boost defense spending

Politico reported the information.

Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Greece, Croatia, Latvia, Lithuania, Hungary, Poland, Portugal, Slovenia, Slovakia, Finland, and the Czech Republic are among the countries pushing for more flexibility to ramp up defense capabilities.

Twelve of them have already filed formal requests with the European Commission.

Using this exception would let countries increase defense spending by up to 1.5% of their GDP annually for four years, without breaking EU fiscal rules.

According to the article, Germany is the only large EU economy planning to use this option. Countries with tighter budgets, like Italy or France, aren't asking for fiscal leeway to buy military gear — nor are wealthier states like the Netherlands or Sweden.

Still, Denmark — despite being in the latter group — has decided to join the push, aiming to send a political message.

"The Danish activation will help send a signal to the outside world that the EU countries are united in the rearmament effort", said Economy Minister Stephanie Lose.

The European Commission urged countries to make a decision by April 30 so fiscal plans can be aligned with financial markets and the emergency rule can be activated by July. But Politico notes this deadline isn’t binding.

Spanish Economy Minister Carlos Cuerpo said his country would decide “over the coming months.”

Italy’s Finance Minister Giancarlo Giorgetti, meanwhile, said Rome might hit NATO’s 2% defense spending target if it adjusts how it reports defense-related costs. He said Italy will wait until the NATO summit in June, when new spending rules for all members are expected.

• The Stockholm International Peace Research Institute (SIPRI) recently reported that global defense spending is expected to reach a record $2.7 trillion in 2024.