UK eyes 'defense bank' to fund Europe’s rearmament push against Russia
No decision has been made yet (Photo: Getty Images)
The UK government is considering plans to create a defense bank to rearm its northern European allies against Russia, according to The Telegraph.
According to the Telegraph, these plans could be modeled on a similar EU loan scheme of €150 billion, which is intended to finance weapons purchases by the bloc's member states.
As for the defense bank, if implemented, it would serve the 10 northern European NATO countries — the so-called Joint Expeditionary Force. This alliance, besides the UK, includes Norway, Finland, Sweden, Estonia, Latvia, Lithuania, Denmark, Iceland, and the Netherlands.
If the above‑mentioned bank is brought to life, it would allow security projects to be financed through borrowing at lower interest rates.
But as The Telegraph notes, no decision has been made yet, and the talks are only preliminary in nature.
Russia may attack NATO
The Prime Minister of Poland, Donald Tusk, recently stated that Russia could attack one of the NATO countries within months, not years. He also expressed doubt that the US would defend Europe in such a scenario.
According to Dutch intelligence, Russia could prepare for a potential confrontation with NATO approximately one year after the end of the war against Ukraine.
