Spurred by Trump and Brexit, EU plans five-billion-euro defense fund

EU foreign policy chief Mogherini talks to reporters during the Black Blade military exercise at Florennes airbase

From Reuters:

“The European Union unveiled its biggest defense funding and research plan in more than a decade on Wednesday to reverse billions in cuts and send a message to U.S. President-elect Donald Trump that it wants to pay for its own security.

Part of a broader push to revitalize defense cooperation, the European Commission proposed a 5 billion-euro ($5.3 billion) fund to let governments club together to buy new helicopters and planes to lower costs.

Another plan to let the EU’s common budget and its development bank invest in military research would open the door to new drones, cyber warfare systems and other hi-tech gear, EU officials said.”

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