BRUSSELS — Internal Market Commissioner Thierry Breton wants to set up a massive €100 billion EU defense fund, he said on Tuesday.
He’s slated to present the European Defence Investment Program (EDIP) on February 27, a cash pot aimed at boosting joint weapons procurement and putting the EU on more of a war footing by ramping up domestic arms and ammunition production.
“I believe we have to have a huge defense fund to help to accelerate, even probably in the amount of €100 billion,” Breton, who’s also in charge of defense, said at an event hosted by the liberal Renew Europe group at the European Parliament.
“I’m convinced we will do this,” he said, adding that EU leaders will discuss defense challenges at a summit in early February. Decisions on allocating EU budget money to the defense industry will need to be approved by the European Council.
Breton also insisted that the bloc can still meet its target of producing 1 million artillery shells by this spring which could then be sent to Ukraine.
Last March, the EU gave itself 12 months to donate the ammunition to help Ukraine in its war against Russia. But Europe’s defense industries are having a hard time gearing up, and the target has looked increasingly doubtful. German Defense Minister Boris Pistorius said in November it would be impossible to deliver the rounds on time.
But Breton isn’t giving up.
“I want to tell you here today that we will stick to our commitment,” Breton said.
He said meeting that target will require cutting back on exports to non-EU countries and making sure member governments put pressure on their weapons industries to ramp up production.
“We are only the European Commission,” he cautioned, but stressed it is “absolutely” possible to reach the million shell goal by March or April.
Breton also said that the EU can be on a par with Russia in terms of producing weapons within 18 months to two years, saying it is “extremely important” for the EU to “have the same capacity.”
Russia has dramatically ramped up its own ammunition production, and has also received thousands of shells from its ally North Korea. Access to huge amounts of ammunition is vital in the grinding positional war along hundreds of kilometers of trenches in eastern and southern Ukraine, and there are worries that Ukraine won’t be able to hold the line unless it gets much more support from the West.
At a time of crisis for Ukraine and concern over the credibility of the promises made by its allies, Breton castigated officials for doubting the bloc’s ammunition targets.
“I’m not happy when I see some defense ministers saying we will not be able to deliver, this is not the kind of information you give when there is a war on your Continent,” he said.
CLARIFICATION: This article has been updated to clarify that EU leaders will discuss defense issues during their February summit.
