German Chancellor Olaf Scholz called for a significant increase in defense spending so that Europe would remain an equal ally of the US, SİA informs via TASS.
"In order for Europe to be and remain an equal ally of the US, we must do much more for our security so that we can continue to live in peace. How much more we need to spend on our defense must be determined by what capabilities we need to protect Germany and NATO from any possible attack. There is no doubt that our defense spending must continue to grow significantly," Scholz told reporters in Berlin.
According to the German Chancellor, in order to reach NATO's target of 2% of GDP, additional 30 billion euros should be allocated from the federal budget from 2028.
"Every additional percent that we spend on our defense is currently equivalent to another 43 billion euros. These are huge amounts," he stated.
Scholz also added that he will push a discussion within the European Union on how to actually achieve investments in defense and the development of a strong European defense industry. "It is important to quickly achieve effective results," Scholz concluded.
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