NATO, Europe
EU members of NATO ready to raise defence spending beyond 2% of GDP, Costa says
The 23 EU members who also belong to NATO are likely to agree to raise the defence spending target above the current 2% of national output at a June summit of the alliance that will set a new level, European Council President Antonio Costa said.
Europe must spend more on its own defence
Spending more on defence must, however, go hand-in-hand with increased efficiency. As both the recent Draghi and Letta reports set out, the European defence industry remains fragmented, lacks scale and needs further consolidation and specialisation to create poles of excellence.
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