AIRLINK 164.00 Decreased By ▼ -1.36 (-0.82%)
BOP 10.58 Increased By ▲ 0.19 (1.83%)
CNERGY 8.40 Increased By ▲ 0.57 (7.28%)
FCCL 47.24 Increased By ▲ 1.59 (3.48%)
FFL 15.30 Increased By ▲ 0.18 (1.19%)
FLYNG 26.45 Decreased By ▼ -0.03 (-0.11%)
HUBC 137.19 Increased By ▲ 1.91 (1.41%)
HUMNL 12.99 Increased By ▲ 0.14 (1.09%)
KEL 4.30 Increased By ▲ 0.11 (2.63%)
KOSM 5.63 Increased By ▲ 0.16 (2.93%)
MLCF 60.80 Increased By ▲ 1.37 (2.31%)
OGDC 215.60 Increased By ▲ 2.53 (1.19%)
PACE 5.54 Increased By ▲ 0.13 (2.4%)
PAEL 41.89 Decreased By ▼ -0.12 (-0.29%)
PIAHCLA 17.65 Increased By ▲ 0.60 (3.52%)
PIBTL 10.22 Increased By ▲ 0.29 (2.92%)
POWER 11.88 Increased By ▲ 0.09 (0.76%)
PPL 174.68 Decreased By ▼ -0.11 (-0.06%)
PRL 35.65 Increased By ▲ 1.29 (3.75%)
PTC 22.95 Increased By ▲ 0.25 (1.1%)
SEARL 95.08 Increased By ▲ 1.33 (1.42%)
SSGC 36.47 Increased By ▲ 0.36 (1%)
SYM 14.00 Increased By ▲ 0.52 (3.86%)
TELE 7.27 Increased By ▲ 0.15 (2.11%)
TPLP 10.25 Increased By ▲ 0.04 (0.39%)
TRG 61.93 Increased By ▲ 1.00 (1.64%)
WAVESAPP 10.39 Increased By ▲ 0.11 (1.07%)
WTL 1.31 Increased By ▲ 0.03 (2.34%)
YOUW 3.72 Increased By ▲ 0.02 (0.54%)
BR100 12,388 Increased By 74.4 (0.6%)
BR30 36,995 Increased By 487.9 (1.34%)
KSE100 115,532 Increased By 623 (0.54%)
KSE30 35,662 Increased By 120.4 (0.34%)
World

EU to unveil defence spending push

  BRUSSELS: The EU is to propose a new common defence fund on Wednesday to help Europe stand alone as a global m
Published June 7, 2017

 

BRUSSELS: The EU is to propose a new common defence fund on Wednesday to help Europe stand alone as a global military power, an ambition seen as more urgent due to strained ties with the US.

The proposal from the European Commission comes at the demand of EU leaders who have focused on security and defence to provide a new sense of purpose after the Brexit vote last year shook Europe.

The incentive grew stronger after the election of US President Donald Trump, who berated his European partners on military spending at a raucous NATO summit in Brussels last month.

This led German Chancellor Angela Merkel to urge Europeans "to take our destiny in our hands" and warn that the United States was no longer a reliable partner.

Adding to the sense of chaos, is a more assertive Russia and a series of deadly attacks claimed by Islamic State group in France, Belgium and Britain.

The new fund will be unveiled later on Wednesday by EU foreign policy chief Federica Mogherini as part of a broader effort by Commission President Jean-Claude Juncker to work on an ambitious EU defence strategy.

"This is an exceptional moment, taboos are being broken," a top EU diplomat told AFP on condition of anonymity.

The commission will argue that the EU's soon to be 27 member states (minus Britain) can no longer afford to individually pay the high cost of maintaining a military of a global reach.

Copyright AFP (Agence France-Press), 2017
 

Comments

Comments are closed.