Historic ‘ASAP’ Ammo Deal Approved by the European Parliament
The €500 million subsidy plan to boost domestic defense production—part of the wider €3 billion arms procurement scheme—can now be finalized during the Council’s upcoming July summit.
The €500 million subsidy plan to boost domestic defense production—part of the wider €3 billion arms procurement scheme—can now be finalized during the Council’s upcoming July summit.
The MEPs chose to bypass normal voting procedures on boosting the bloc’s defense industry. Instead of negotiating for months, the decision on the €500 million in defense subsidies can now be taken by the end of the month.
Europe’s defense industry is to make the switch to “war economy mode,” Commissioner for the EU’s internal market, Thierry Breton, had remarked.
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