BRUSSELS (Reuters) - New EU plans to strengthen Europe's defence industry and increase military capabilities could mobilize close to 800 billion euros ($841.4 billion), EU Commission President Ursula von der Leyen said on Tuesday.

The EU is poised to spend up to €800billion (£660billion) on defence thanks to a new major continental funding drive, European Commission chief Ursula von der Leyen has vowed. On Tuesday, Von der Leyen proposed a borrowing drive worth €150billion to lend to EU Governments - which,

European Union (EU) leaders will gather in Brussels on Thursday for a summit which could see member states mobilise up to 800 billion euros to 'ReArm Europe' as proposed by European Commission President Ursula von der Leyen to ramp up the defence spending,

European Commission President Ursula von der Leyen presented on March 4 the ReArm Europe plan aimed at strengthening the defense capabilities of European countries. The announcement comes amid seismic geopolitical shifts as U.

European Commission President Ursula von der Leyen has stated that Europe must urgently rearm. She will propose a plan for this next week, informs The Guardian. Following a summit in London, von der Leyen said that European leaders had a productive and candid discussion about what is needed to put Ukraine in a position of strength.

Ursula von der Leyen has proposed an €800bn ($841 billion) plan to boost defences of EU nations to counter possible US disengagement following Donald Trump's decision to suspend all military aid to Ukraine.

Use precise geolocation data. Actively scan device characteristics for identification. Store and/or access information on a device. Personalised ads and content, ad and content measurement, audience insights and product development. List of Partners (vendors)