The Swedish Prime Minister announces that the government fully supports the European Commission’s proposal to invest almost €800 billion extra in the Union’s military rearmament.

– These are good proposals. A united government and a united EU committee are behind this, says Ulf Kristersson.

The plan, presented by the heavily criticized President of the European Commission, Ursula von der Leyen, aims to “free up” around €800 billion for defense spending to rapidly strengthen Europe’s military capabilities and deliver more weapons to Ukraine.

– Europe is ready to massively boost its defense spending. Both, to respond to the short-term urgency to act and to support Ukraine but also to address the long-term need to take on much more responsibility for our own European security, said von der Leyen, stating that ‘we are in a time of rearmament’.

The plan includes the creation of a new EU fund to allow member states to borrow money for military investments – but also the lifting of strict EU budget rules and allowing member states to run larger deficits without the risk of fines or austerity measures – if the money is spent on defense.

– This is a plan that aims to help Ukraine, but also to support European countries to quickly build up greater military capabilities so that we become better at defending Europe and do not assume that it is American taxpayers who in the long run will finance so much of European defense, says Ulf Kristersson.

Missiles and drones on loan

He clarifies that Sweden supports all parts of the European Commission’s proposal, which includes allowing European countries to borrow a total of €150 billion to buy air defense, missiles and drones.

– The greatest responsibility falls on individual member states. We are simplifying some of the rules so that countries with a tougher economy have a little more freedom of movement so that they can use a little more resources for military defense, and we are using the collective strength of the EU to get a little lower interest on the loans that individual countries need to take to increase their defense capabilities.

– Right now, it would be a bigger threat to Europe not to equip the European member states’ defenses more strongly, he continues.

The Social Democrats also support the EU plan and the party’s EU policy spokesperson, Matilda Ernkrans, told state television that they have long advocated this type of strategy.

“This is exactly what we Social Democrats have advocated. Increased opportunities for EU member states to take out loans via the EU to equip their defense. It is good that the government is now giving its support to this”.