politics
February 1, 2026
More EU member debt needed to finance military
The EU’s military push cannot be financed under the current budget and will require joint borrowing, according to Seamus Boland
TL;DR
- Seamus Boland, president of the EESC, warns the EU's next seven-year budget is too small for planned military spending increases.
- EU NATO members agreed to raise defense spending targets toward 5% of GDP by 2035.
- Boland argues that joint borrowing is necessary to fund the EU's defense ambitions without cutting investment in poorer regions or agriculture.
- Several EU countries are already at risk of disciplinary action for exceeding deficit limits, complicating national funding for defense.
- The EU has previously used collective borrowing for post-Covid recovery and a loan for Ukraine.
- Germany and the Netherlands oppose additional joint debt due to shared liability risks and domestic resistance.
- Russia has warned that EU militarization risks escalating tensions and undermining peace prospects in Ukraine.
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