EU leaders open emergency summit on defense and Ukraine aid

Facing the prospect that the United States might cut them adrift under President Donald Trump European Union leaders launched a day of emergency talks Thursday in a bid to beef up their own security and ensure that Ukraine will still be properly protectedFriedrich Merz the likely next chancellor of Germany and summit chairman Antonio Costa discussed over breakfast in Brussels ways to fortify Europes defences on a short deadlineMerz pushed plans this week to loosen the nations rules on running up debt to allow for higher defence spendingMeanwhile the 27nation bloc was waking up to news that French President Emmanuel Macron would confer with EU leaders about the possibility of using Frances nuclear deterrent to protect the continent from Russian threatsIt all underscored the sea change that has taken place in the two months since Trump took office and immediately started questioning the cornerstones of cooperation between the United States and Europe that had been the bedrock of Western security since World War IIGiven these profound shifts in US policy and the existential threat of another war on the continent Europe must manage its essential defence tasks the European Policy Center think tank said in a commentaryThe bloc will take decisive steps forward Macron told the French nation Wednesday evening Member states will be able to increase their military spending and massive joint funding will be provided to buy and produce some of the most innovative munitions tanks weapons and equipment in Europe he saidAdding to the ebullient message he said that Europes future does not have to be decided in Washington or MoscowUkraines President Volodymyr Zelenskyy is taking part in the summitLimited room to increase spendingEuropean Commission President Ursula von der Leyen has proposed a plan to loosen budget rules so countries that are willing can spend much more on defense Her proposal is underpinned by 150 billion euros 162 billion worth of loans to buy priority military equipmentMost of the increased defense spending would have to come from national budgets at a time when many countries are already overburdened with debtFrance is struggling to reduce an excessive annual budget deficit of 537 of GDP after running up its total debt burden to 11237 of GDP with spending on relief for businesses and consumers during the COVID19 pandemic and the energy crisis that followed Russias invasion of UkraineFive other countries using the euro currency have debt levels over 10037 of GDP Belgium Greece Spain Italy and PortugalEuropes largest economy Germany has more room to borrow with a debt level of 6237 of GDPPressing security needsPart of any security plan is also to protect the increasingly beleaguered position of UkraineA Russian missile killed four people staying at a hotel in Zelenskyys hometown overnight He said that a humanitarian organisations volunteers had moved into the hotel in Kryvyi Rih in central Ukraine just before the strike The volunteers included Ukrainian American and British nationals but it wasnt clear whether those people were among the 31 injuredEarly this week Trump ordered a pause to US military supplies to Ukraine as he sought to press Zelenskyy to engage in negotiations to end the war with Russia bringing fresh urgency to Thursdays summitThursdays meeting is unlikely to address Ukraines most pressing needs It is not aimed at urgently drumming up more arms and ammunition to fill any supply vacuum created by the US freeze Nor will all nations agree to unblock the estimated 183 billion euros 196 billion in frozen Russian assets held in a Belgian clearing house a pot of ready cash that could be seizedStill the Europeans underlined the importance of the momentEurope faces a clear and present danger on a scale that none of us have seen in our adult lifetime Some of our fundamental assumptions are being undermined to their very core von der Leyen warned in a letter to the leaders ahead of their meetingBut perhaps the biggest challenge for the EU will be to take a united stance at a moment when its fractured since much of what the bloc does requires unanimous support Hungary is threatening to veto part of the summit statement on UkraineEven if the challenges are so daunting Thursdays summit is unlikely to produce immediate decisions on spending for Ukraine or its own defenses Another EU summit where the real contours of decisions would be much clearer is set for March 2021This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever