The European Commission on Tuesday proposed a plan to borrow up to 150 billion euros for lending to EU governments, as part of a wide-reaching rearmament strategy spurred by Russia’s war in Ukraine and concerns over the reliability of U.S. protection. ‘We are living in the most momentous and dangerous of times,’ stated European Commission President Ursula von der Leyen. ‘We are in an era of rearmament. And Europe is ready to massively boost its defence spending.’
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