€7.3 Billion on the Table: Is Bulgarian Business Ready for Europe’s Defense Boom?
Europe is undergoing a fundamental shift in how it approaches defense, moving beyond increased spending toward the creation of an entirely new industrial ecosystem
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Josep Borrell
At a summit in Brussels, EU leaders approved the community's first defense strategy, the EU's Strategic Compass, which includes the creation of a 5,000-strong EU Rapid Reaction Force. This is stated in a statement issued today in Brussels by the EU High Representative for Foreign Affairs and Security Policy Josep Borrell.
“The Strategic Compass has already been approved by all Member States, we have a plan to take a real step towards developing European defense and security. Our task now is to put it into practice quickly and fully,” Borrell said.
“The conflict in Ukraine proves that 'the European Union is in even greater danger than we thought just a few months ago,” he said.
“The Strategic Compass includes a specific deployment plan that will allow us to deploy up to 5,000 troops quickly to respond to different types of crises based on different scenarios, as well as increase the readiness of our forces through regular field maneuvers, such as not yet conducted at EU level, we will strengthen our command and control capabilities and ensure faster and more flexible decision-making. We will increase our ability to respond to cyber threats, misinformation and foreign interference. We will also expand investment in the necessary strategic and next-generation capabilities. All this will make the EU a more modern source of security and a stronger global partner for NATO and the United Nations,” Borrell said.
He emphasized that, in the context of the new defense concept, the EU “intends to act more quickly and decisively in times of crisis, to protect its citizens from rapidly changing threats, to invest in the military capabilities we need, and to partner with other countries to achieve this goal”.
The first concept in the history of the EU - the EU's Strategic Compass - is not directly related to the conflict in Ukraine. It has been developed by the EU's External Action Service under the leadership of Borrell since 2020.
/BGNES
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