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Given these obstacles, experts argue that European nations must develop a comprehensive, decade-long plan to enhance their defense mechanisms, independent of the U.S. According to recommendations from the European Council on Foreign Relations, this endeavor may require an additional €250 billion per year, essentially doubling Europe’s defense spending to about 3.5% of GDP.
Questions arise regarding how European nations can fund this ramp-up in military capabilities. Options may include joint EU borrowing reminiscent of the COVID Recovery Fund and streamlining cooperation among European defense sectors to reduce costs. However, implementing such measures, including potential tax increases or spending cuts in other areas, could be politically unfeasible for many leaders.