EU Unveils Plans For Common Defense Fund With Over €5B

Law360, New York (December 1, 2016, 8:35 PM EST) -- The European Commission unrolled plans for a common defense fund Wednesday, which will include over €5 billion ($5.3 billion) each year to help member states jointly invest in defense equipment, following a call from the commission's president to “toughen up” Europe.

According to a statement issued by the EC, the European defense fund will be part of an “action plan” that involves European Union member states' providing financial support to defense research and development while the commission works to boost a competitive defense market in the...
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