The bloc isn’t using the “full potential” of its crisis fund, its director told Reuters
The head of the European Stability Mechanism (ESM) has said that cash-strapped Eurozone countries can tap into its €500 billion worth of reserves to increase military spending. The EU has already borrowed tens of billions of euros to boost its defense budgets and arm Ukraine.
Speaking to Reuters on Friday, ESM Director Pierre Gramegna said that the fund – which was originally intended to bail out debt-ridden economies during the financial crisis – could be used to let countries increase their defense spending on credit.
“In these times of geopolitical…
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