‘The European Commission is set to announce heavy investment in cyber security, warships and drone technology, in a joint defense plan to be revealed on Wednesday, the Financial Times reports. It follows a resolution calling for the creation of an EU army.
European Commissioner Jyrki Katainen will this week provide details on the European Defense Fund, a mechanism for EU members to combine their defense spending. The fund was unveiled by European Commission President Jean-Claude Juncker in his September state of the union address.
“For European defense to be strong, the European defense industry needs to innovate. That is why we will propose before the end of the year a European Defense Fund, to turbo boost research and innovation,” Juncker said at the time.’