The EU has responded to recent developments by launching a €300 billion defense plan, which includes strengthening its defense sector, boosting tech innovation, and reducing reliance on the US. This initiative is expected to be discussed at the upcoming NATO summit in The Hague, where leaders are set to increase defense spending targets to 5% of GDP.
The EU's defense plan aims to address concerns over US commitment to European security and reboot Germany's economy through investments in infrastructure and defense. Belgium has proposed including regional investments in roads and bridges as part of its defense spending, while Spain and Italy seek to broaden the definition to include cybersecurity and climate change efforts.
The UK stands to gain significantly from participating in this strategy, but faces the risk of being excluded without a formal agreement, potentially losing funding and influence over EU defense decisions.