EU Leaders Discuss "ReArm Europe" Plan Amidst Shifting Security Landscape

European Union leaders convened to discuss the "ReArm Europe" plan, proposed by European Commission President Ursula von der Leyen, aimed at bolstering the EU's defense capabilities. This initiative comes as the United States has suspended military and financial support to Ukraine, raising concerns about European security. The plan includes allowing governments to exceed debt-to-GDP limits for defense spending and creating a mechanism to secure €150 billion through EU-backed loans for joint procurement of defense equipment. While some member states like Hungary and Slovakia have expressed opposition, others, including Sweden, Finland, Denmark, and Germany, have shown support. Germany's potential new government is considering lifting national borrowing limits to increase defense spending by €500 billion, signaling a significant shift in European defense policy.