Poland Prioritizes Joint EU Defense Financing in Upcoming Bloc Presidency

Poland plans to focus on joint European Union financing for defense during its six-month presidency. The discussion will revolve around financing models, possibly involving new EU borrowing. Poland's Finance Minister Andrzej Domanski emphasizes the importance of cooperation among European nations for security solutions.

Poland is set to prioritize joint European Union financing for defense during its upcoming six-month presidency of the 27-nation bloc, emphasizing that security is a collective European asset, according to Poland's Finance Minister Andrzej Domanski.

The European Commission has projected that enhancing the EU's defense capabilities could cost upwards of 500 billion euros over the next decade. In April, EU finance ministers are scheduled to discuss potential financing models for this initiative in Warsaw, Domanski stated.

While dialogue among EU nations is ongoing, detailed financial strategies are yet to be decided. The Polish presidency aims to ensure efficient cooperation and address potential controversies around joint EU borrowing, especially in light of legal challenges from countries like Germany.

(With inputs from agencies.)