Reuters: European Commission preparing second €150 billion military investment programme

The European Commission is working on a new €150 billion military investment programme, Reuters reported, citing sources within the Commission.

The initiative follows strong participation by EU member states in the first programme — SAFE, previously known as “Rearmament of the European Union.”

Earlier, Commission President Ursula von der Leyen said at a Politico event in Brussels that EU countries had submitted “so many applications for SAFE funding” that many are now calling for a second programme.