this post was submitted on 02 Apr 2025
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From Europe or about Europe

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Archive: https://archive.is/2025.04.02-134322/https://www.ft.com/content/93d7168b-75a3-41e3-ba5a-4f378b93a709

The UK has circulated plans for European countries to establish a “supranational institution” that jointly purchases military equipment, stockpiles weapons and helps to finance large-scale rearmament across the continent. 

The informal paper, written by UK officials and seen by the Financial Times, presents the case for a multilateral fund for a “coalition of the willing” that would borrow on markets at favourable rates and support defence spending

Backed with equity and sovereign guarantees, the fund would both lend money for defence projects and actually acquire military assets, creating common “stockpiles” of equipment for participating nations.

Drawn up by UK Treasury officials, the so-called “non-paper” was circulated last week with key European capitals for discussion but stated that it does not represent the official policy of the British government. “We don’t comment on leaks,” said a UK government spokesperson. 

While not specifying the intended size of the fund, the paper says the measures could help to close a defence financing gap in Europe that is estimated to be “hundreds of billions of euros”.

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[–] [email protected] 0 points 1 week ago (2 children)

Europe can’t afford it. There is no money. Debt it’s running near record high, almost universally. The biggest economies are teetering on recession. Public services that belong to us all are being slashed.

No more weapons .

[–] [email protected] 2 points 1 week ago* (last edited 1 week ago)

Then why dont we stop taking the funding for the poors and instead tax the fucking billionaires for it? It's not like they will fight in any kind of conflict at any rate but the people will have to, the least they can do is fund the fucking ordeal.

[–] [email protected] 1 points 1 week ago* (last edited 1 week ago)

How do you measure this record high debt and how do you decide what is the correct and maximum level of debt?

I’d rather close hospitals before I’d let be invaded and I’m saying this as a chronically ill person that needs outrageously expensive medicine.