EU ambassadors agree on €150 billion defence lending scheme

EU ambassadors have agreed on the €150 billion Security Action For Europe (SAFE) loans for weapons regulation.

The agreement now needs to be formally adopted at a meeting of the General Affairs Council, made up of EU ministers, on 27th May.

Hungary abstained, but since the regulation was adopted with qualified majority Budapest wasn't able to block the initiative.

António Costa, president of the European Council, called the agreement, “an important step toward a stronger Europe.”

Security Action For Europe General Affairs Council European Council António Costa

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