Economic and Financial Affairs

The set of proposals focuses on how to use all the financial levers at the disposal to help Member States to quickly and significantly increase expenditures in defence capabilities. ReArm Europe could mobilise close to EUR 800 billion for a safe and resilient Europe.

The Council meeting was preceded by an informal ministerial discussion on the defence expenditure and their treatment in the economic governance framework. The Commission presented the two first ‘Omnibus packages’, adopted on 26 February 2025, on sustainability and investment simplification. Furthermore, Ministers exchanged views on the economic and financial impact of Russia’s aggression against Ukraine and approved the modified recovery and resilience plans of Belgium and Ireland.