RearmEurope: that is European Commission President Ursula von der Leyen's plan to boost military spending considerably in the coming years.

‘If the member states increase their spending by an average of 1.5 percent, this could result in almost 650 billion euros extra in military spending over the next four years,’ according to Von der Leyen. To make this extra spending possible, the member states of the European Union may exclude military spending from the strict budgetary rules.

In addition to the 650 billion euros, there will also be a new instrument for loans worth 150 billion euros for member states that plan joint investments for defence, especially for the development of drones and rockets to strengthen Europe's air defence. Member states may also use the funds they receive under the cohesion policy for investments in defence.

Von der Leyen wants the substantial military spending to not only work towards a stronger European defence, but also to provide better protection for Ukraine.

The Commission's proposals will be discussed on Thursday during an extra EU summit.

(Fausto/Source: Reuters, Volkskrant, DS, DM/Illustration picture: DPA picture alliance / WIKTOR DABKOWSKI | WIKTOR DABKOWSKI)

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