A supranational bank would sidestep the European Commission, involve the British, and allow defense-spending off the balance sheet.
By Gregorio Sorgi and Giovanna Faggionato
Apr 3. 2025
British officials met select European allies at a discreet dinner in Brussels last week to hatch plans for a new defense fund designed to sidestep the European Commission, keep a lid on public debt and rearm faster.
The off-the-books gathering brought together senior finance ministry officials from Sweden, Denmark, Finland, Poland, the Netherlands, and the United Kingdom to float the idea of creating a supranational bank specifically for the purpose of jointly buying weapons and slashing the cost of defense procurement, according to officials familiar with the matter.
The secret gathering was hosted by Poland, according to one EU official, granted anonymity to speak freely about the confidential discussions, like others quoted in this story.
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