Agency :
The EU is already looking to boost military spending by 800 billion euros ($876.40 billion) over the next four years by loosening its fiscal constraints on defence investment and jointly borrowing for large defence projects against the security of the EU budget.
The defence fund, to be discussed on Saturday during an informal meeting of EU finance ministers in Warsaw, would come on top of the already announced financing initiatives.
The fund, called the European Defence Mechanism (EDM), would be established under an intergovernmental treaty and have substantial paid-in and callable capital, allowing it to borrow on the market.
