France currently spends 2.1 percent of GDP on its military annually — barely above NATO’s 2 percent target, a level that Paris reached only last year.
Europe is scrambling to compose a response to Washington’s new Ukraine policy, in which it appears to be pivoting away from Europe and seeking conciliation with Russia. Amid fears over the future viability of NATO, European nations are seeking to boost their own defense capabilities while currying favor with the administration of U.S. President Donald Trump by focusing on burden-sharing within the alliance.
A European Council summit dedicated to defense and Ukraine is slated for Thursday; EU leaders are expected to discuss ways to fund increased military expenditures.
In order to massively jolt European defense budgets the French president urged the bloc to raid EU cohesion funds and existing funding programs “that aren’t being used.”
“We need to give a mandate to the Commission to use innovative funding. That means either common borrowing, or the European Stability Mechanism … in a first instance we need €200 billion to be able to invest,” he said.
Macron also hinted that he would propose a new defense budget for France, despite lacking a parliamentary majority to pass it.
“We will have to review and increase [the seven-year military planning law],” he said. “The question is: Do we need more national funding? How do we better use our European funding?”
NATO leaders are widely expected to raise the alliance’s current 2-percent spending target during a June summit at The Hague. NATO Secretary-General Mark Rutte told POLITICO at the Feb. 14-16 Munich Security Conference that the new objective would be “significantly more” than 3 percent.
