Former European Commission President Jean-Claude Juncker has proposed financing the defense costs of European countries through joint bonds, DPA reported, quoted by BTA.
“There is no doubt that the Bundeswehr (German armed forces - ed. note) needs more funds, like other armies in Europe“, Juncker told the German news portal “T-online“
He believes that the problem should not be solved only with German debt, but that European bonds should be issued to meet the financial challenge.
However, Juncker noted that this is a long process, referring to the previous debate on Eurobonds that sparked heated debate in Germany. “What I am proposing now and what has been done in connection with the pandemic are targeted European bonds“, he said.
Juncker criticized Europe's current defense policy as inadequate. “European defense budgets are too meager to be taken seriously“, he said, adding that Europe urgently needs to become more independent.
Currently, he noted, “there are only two armies in Europe that would be ready for immediate deployment - the French and the British“.
In addition to increased investment, Juncker called for structural reforms. "If we organize deliveries in Europe a little more sensibly, in a narrower range of weapons, fewer tank models, fewer helicopter models, we could save a hundred billion euros a year," said the former EC president.
Juncker also noted the difficulties in implementing the proposal. He mentioned that in military production there are "national territories that people are not willing to give up." "The Germans will never give up making their own tanks," said Jean-Claude Juncker.