Warsaw (Brussels Morning Newspaper) – Poland’s Finance Minister Andrzej Domanski, announced that during its EU presidency, Poland will prioritize joint EU defence funding, emphasizing security as a common European responsibility.
Poland’s Finance Minister Andrzej Domanski, has announced that during its six-month presidency of the European Council, the country will prioritize joint EU funding for defence, claiming that security is a shared European good. Poland is set to take over the six-month presidency of the Council of the European Union on 1 January 2025.Â
As a commitment of the presidency, Poland will arrange about 400 councils, seminars and meetings with the participation of delegates from 27 nations. The presidency of the Council of the European Union rotates among the European Union member nations every six months.
How does Poland view security as a shared European good?
As reported by Reuter, Finance Minister Andrzej Domanski has said that the European Union’s finance ministers will consult potential financing standards in April in Warsaw.
I believe that security is a common good, therefore we require a common solution. There must be a European solution,
Domanski said.Â
Neglecting to express how much capital was required, he stated that large schemes, like a European air defence system, were not only around money but also regarding collaboration between nations. He also highlighted the need for more efficiency, suggesting the EU’s 12 additional tank systems as “insane.”
“From my discussions with other ministers of finance, there is wide approval for the idea that we require to do way more as Europe,”
Domanski stated.
“There are a couple of resolutions on the table. I think it’s way too early to determine which of them would be desired.”
According to EU Diplomats, discussions were along two major strands: one that would engage the European Union’s long-term funding as security for fresh borrowing, following the standard for the European Union’s post-COVID 800 billion euro recovery budget. The second choice is a special ambition vehicle with paid-in capital that would borrow against that capital, supported on the eurozone bailout budget, the European Stability Mechanism (ESM), which can loan up to around 500 billion euros.
