Sánchez attracts “frugal” Finland to his proposal to pool European defense spending

Eduardo González The President of the Government Pedro Sánchez managed this Wednesday to attract Finnish Prime Minister Petteri Orpo to his proposal to pool increased defense investment across the Member States and the EU as a whole. In recent years, Finland has been part of the European Union's "frugal countries," traditionally opposed to the use of common European funds to address the consequences of COVID-19 and other public spending needs. As with the pandemic, Spain's proposal for transfers and the issuance of Eurobonds to finance increased defense investments by states has met with support from countries like France, but also with rejection from the so-called "frugal countries." "Europe's past has been frugal," but now "it must open up to financing" to fund its security, Orpo declared during the joint press conference after meeting with Sánchez in Helsinki. "We are open to different types of financing instruments" and, therefore, "we have changed our traditional position," he added. "We are united. We know that Russia is a threat to all of Europe, and therefore, we must strengthen our defense," the Finnish leader warned. "Almost all European countries are willing to spend two percent or more, and I agree with President Sánchez; for us, it is essential to use common EU funds for things that affect the entire EU," Orpo added. This "economic reinforcement" for "rearmament" is being discussed in the European Union, and decisions will have to be made "throughout the spring," he added. "My proposal, shared by Orpo, is that we must consider that defense and security are European public goods, and that requires common resources," Pedro Sánchez declared at the press conference. Therefore, he continued, Spain supports Finland's idea of "working with the EIB (European Investment Bank)" to issue loans aimed at strengthening security. “We are prepared to work with this tool,” he added. “Faced with a common challenge, we must provide a joint response. We want an EU that protects us on all fronts,” he continued. “It doesn't matter whether the threats come from the north, the east, or the south, because Europe can deal with them all,” he declared. Sánchez also reiterated, without specifying a timeframe, that Spain will fulfill its commitment to increase defense spending to two percent of GDP before the agreed deadline of 2029, as announced on March 6 after the extraordinary Brussels summit on security and Ukraine. “Spain has increased defense spending over the last seven years and is prepared to fulfill its commitment to allocate two percent of GDP,” he stated. Separately, the President of the Government proposed at the same press conference that the EU grant subsidies to countries bordering Russia. “We must think not only about loans but also about subsidies for Eastern European countries, just as we did during the COVID crisis for the hardest hit countries,” he stated. “Spain's proposal is that these subsidies be sent to the Nordic and Baltic countries, closest to the Russian border. They need to feel European solidarity. Defense and security are European assets, and common resources must be provided,” stated Sánchez, who also discussed with Petteri Orpo the opportunities that exist for Finnish and Spanish companies in terms of innovation and competitiveness in the defense industry. Furthermore, the President of the Government welcomed Ukraine's acceptance of the United States' proposal to declare an immediate and provisional 30-day ceasefire, subject to simultaneous Russian acceptance and implementation, and warned that Russian reciprocity is “key.” He also asserted that the European Union is willing to play its part in the peace negotiations because “this is an existential issue for Europe.” The President of the Government was also received in Helsinki by the President of Finland, Alexander Stubb, with whom he discussed transatlantic relations and the need to deepen a 360-degree vision of security and defense in Europe. Luxembourg Following his official visit to Finland, Pedro Sánchez traveled to Luxembourg, where he met with Prime Minister Luc Frieden to discuss bilateral relations and issues related to European security. During the meeting, according to Moncloa, both reaffirmed their shared commitment to European unity and values and their willingness to continue supporting Ukraine. They also agreed on the need to strengthen the European defense industry. The President of the Government also met with the Grand Duke of Luxembourg and with the President of the European Investment Bank (EIB), Nadia Calviño. "We are strategic partners of EU Member states, working for a strong, secure, and united Europe in a more stable and peaceful world," the former Spanish Vice President of the Economy stated on social media.

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