European Commission President Ursula von der Leyen has reiterated her call for increased investment in European defence.
Speaking to the European Parliament in Strasbourg in France on Tuesday, von der Leyen warned that the era of illusions is over.
"After the Cold War, some believed Russia could be integrated into the European economic and security architecture. Others hoped we could indefinitely rely on the United States. This complacency has weakened our vigilance," she said. "We thought we could benefit from a peace dividend, but in reality, we created a security deficit. The time for illusions is now over."
Von der Leyen stressed the importance of Europe taking responsibility for its own security, "not in a distant future, but starting today."
Parliament bypassed
EU Member States have approved the European Commission's defence plan, which will be further developed by the European summit on 20 and 21 March. The plan includes creating a new tool to mobilise €150 billion in loans for defence investments and offering more budgetary flexibility for Member States to increase their defence spending.
The Commission has invoked Article 122 of the Treaty on the Functioning of the European Union (TFEU) for the new tool, allowing the Council to approve the proposal without the European Parliament's consent.
"This is the only option for financial emergency aid, which is urgently needed," von der Leyen said. "We will keep the Parliament continuously informed of developments."
The European Parliament in Strasbourg. Credit: EU
Parts of the plan, such as redirecting cohesion funds towards defence spending, require the approval of both EU Member States and the Parliament.
Von der Leyen highlighted the "positive spillover effects" for the European economy and competitiveness.
"The investment boost will extend far beyond the defence sector – from steel to aerospace, from major transport companies to innovative AI start-ups. Together, we are strong enough to deter any hostile nation. We have the economic power and now, finally, we also have the political will."
