– Today we have focused on security, Poland and other Eastern European countries invest a lot in defense and security. This year we will spend almost 5 percent. GDP for defense. We believe that security is a common European good and that the time has come to take more responsibility for Europe's security – said the finance minister Andrzej Domański on Saturday during a press conference.
On Saturday, a two -day, informal meeting of the EU Council for economic and financial council, i.e. EcoFin, a body gathering finance ministers of European Union countries.
EUR 800 billion in a pool
Domański emphasized that Poland was satisfied with the initiative of the European Commission under the name Rearm Europe, in which the EC wants to mobilize up to EUR 800 billion for investment in defense. As part of the EC program, it proposes the SAFE instrument, under which it would be up to EUR 150 billion to be obtained as part of loans.
– Thank you for the largest package of this type in history, but our goal is to urgently finalize the works – said Domański. As for the Safe instrument, the presidency wants a quick agreement, maybe in May – he added.
The EU Trade Commissioner Valdis Dombrovskis stated during the conference that “in the current geopolitical situation of the EU is ready to take more responsibility for security.” He added that it is necessary to mobilize larger investments in safety and arms industry. He emphasized that countries neighboring Russia and its satellite Belarus better understand the threat – they fall victims of “instrumentalization of migration” or disinformation campaigns from Russia.
– Increasing defense requires investment and this was mentioned. We want to increase defense expenses by EUR 800 billion, which can change the situation in the scope of EU defense capabilities, we also want to support investments in defense until 2030 – said Dombrovskis.
– We have proposed to the member states the possibility of syntax of applications for domestic output clauses, which will allow for a rapid increase in defense expenditure. Countries that submit such conclusions will be able to move away from standard fiscal rules, but at the same time will have to maintain fiscal stability. We suggest quick submission of such applications, in April, so that the EC can issue a regulation in June and that it would go to advice in July – he added.
Pursuant to the national clause, the member states would not have to maintain the fiscal rules resulting from the EU treaties, according to which the deficit of a Member State should not exceed 3 percent. GDP and public debt – 60 percent
