Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323811 
Authors: 
Year of Publication: 
2025
Citation: 
[Journal:] EconPol Forum [ISSN:] 2752-1184 [Volume:] 26 [Issue:] 3 [Year:] 2025 [Pages:] 17-21
Publisher: 
CESifo GmbH, Munich
Abstract: 
European defense must encompass more than the European Union alone. It is thus imperative to find ways to include strong allies like the UK or Norway in any new endeavor. For the next few years, Europe's defense rests on Ukraine's continuing resistance to Russia. But this requires increased support from Europe, as US financial and military aid is now running out. The required increase in European support to Ukraine is of the order of EUR 50 billion per year, a fraction of 1 percent of European GDP. But even this would not fit the EU budget, and few member countries have any fiscal space. The way forward is to create a new financing vehicle supported by a grand coalition of the willing that encompasses most of the EU 27 plus the UK and Norway - but leaves out Moscow-friendly states like Hungary.
Document Type: 
Article

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