National governments would retain control of military assets bought by a new European Defence Fund, under plans unveiled by the European Commission on Wednesday (30 November).
The proposed fund is to have two elements - a military research and development (R&D) budget worth about €500 million a year and a joint procurement budget worth €5 billion a year.
It would be steered by a “coordination board” made up by delegates from EU states, the EU foreign service, the commission, and...
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