In response to requests for Europe to increase defense expenditure, French Finance Minister Eric Lombard stated on Monday that European nations must do a better job of sharing the cost of defense.
Lombard told reporters that if EU nations are serious about pursuing strategic autonomy, they must first boost defense budgets. He stated, “France is doing part of the job and we would like that this effort should be shared more equally among member states,” as he came for a meeting with counterparts from the euro region.
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According to NATO requirements, France invests 2% of its GDP on defense, with an annual defense expenditure of roughly 60 billion euros ($63 billion). NATO data shows that Croatia, Portugal, Italy, Belgium, Luxembourg, Slovenia, and Spain all spend less than the 2% objective. $1 is equivalent to 0.9549 euros.
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