Europe Should Consider Joint Defense Budget, ECB’s Kazaks Says

In a recent statement, Martins Kazaks, a member of the European Central Bank's Governing Council, has suggested that the European Union should consider a joint defense budget financed through jointly-issued debt. Kazaks believes that pooling resources for defense spending could be a more efficient approach compared to individual national efforts. The proposal comes amid growing concerns over security challenges and the need for a more coordinated European defense strategy. Kazaks argues that a shared defense budget could help the EU become a stronger global player and increase its strategic autonomy. This idea aligns with the broader push for greater European integration and the development of a more robust EU defense capabilities. While the proposal is still in the early stages of discussion, it highlights the ongoing efforts to enhance the EU's defense and security capabilities in a rapidly changing geopolitical landscape.