EU Leaders to Strengthen Bloc Amid Economic and Military Pressures

EU leaders plan to enhance the bloc's competitiveness by boosting military investment and reaffirming support for Ukraine, amid economic challenges and U.S. tariffs. They will discuss defense spending, regulatory reforms, and the capital markets union, while noting the importance of global cooperation in defense industries.

European Union leaders are set to boost the bloc's competitiveness by increasing military investment and reaffirming support for Ukraine amidst economic challenges, including U.S. tariffs. All leaders, except Hungary's Viktor Orban, plan to back Ukraine's independence, urging Russia to cease hostilities.

The summit will focus on committing to joint defense projects and increasing European arms purchases. France champions the buy-European approach, though there's a caution against excluding non-EU suppliers in a global defense market. Discussions will also address the EU's lag in global technology without timely investments.

Draft summit conclusions aim to cut red tape and enhance energy security and climate neutrality, with an emphasis on real economy investments. This is part of the decade-long envisioned capital markets union, now disputed over centralized oversight. Trade frictions with the U.S., while not officially on the agenda, remain contentious following recent tariff exchanges.

(With inputs from agencies.)