Italy, €20-30 Billion rearming plan with EU funds
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Italy is preparing to receive between €20 and €30 billion from the European "ReArm" plan to strengthen its national defense. This initiative is part of a broader €150 billion European fund aimed at improving security across EU member states. The plan could enable Italy to exceed the 2% of GDP threshold for defense spending, utilizing safeguard clauses from the Stability Pact.
Currently, Italy invests about 1.57% of its GDP in defense, but with the EU funds, this could rise to approximately 2%, allowing Italy to double its defense budget to around €65 billion. The primary areas for investment include increasing military personnel, upgrading air defense systems, and improving armored vehicles, with collaboration from companies like Leonardo and Rheinmetall.
Additionally, the plan will focus on space capabilities, including radar and satellite systems to protect against missile and drone threats. Minister of Defense, Guido Crosetto, emphasized that a well-equipped military is essential for national security, calling it a "harsh reality."
The "ReArm" plan represents a crucial step toward strengthening Italy’s defense capabilities, positioning it to better face global security challenges.
Currently, Italy invests about 1.57% of its GDP in defense, but with the EU funds, this could rise to approximately 2%, allowing Italy to double its defense budget to around €65 billion. The primary areas for investment include increasing military personnel, upgrading air defense systems, and improving armored vehicles, with collaboration from companies like Leonardo and Rheinmetall.
Additionally, the plan will focus on space capabilities, including radar and satellite systems to protect against missile and drone threats. Minister of Defense, Guido Crosetto, emphasized that a well-equipped military is essential for national security, calling it a "harsh reality."
The "ReArm" plan represents a crucial step toward strengthening Italy’s defense capabilities, positioning it to better face global security challenges.