A key topic of discussion was the funding of European defense, particularly in light of the recent European Council decision to mobilize €800 billion over four years to help the EU respond to evolving geopolitical challenges.
Greek Finance Minister Kostis Hatzidakis emphasized that growing global uncertainty makes it essential for Europe to strengthen its defense capabilities. Greece, he noted, has long supported this approach while maintaining its fiscal balance.
Hatzidakis also stressed that EU member states must act swiftly and in coordination to ensure the effectiveness of proposed defense initiatives.
One of the most pressing issues raised was fiscal flexibility for defense spending. Hatzidakis welcomed the European Council’s position, arguing that countries already meeting NATO’s defense spending targets—such as Greece—should not be disadvantaged. He pointed out that Greece has invested heavily in its military to protect its borders and has carried a financial burden that other EU nations are only now beginning to shoulder. "It would be unfair for Greece to face unequal treatment now that all of Europe is being asked to do the same," he stated.
On the proposed European Defense Fund, Hatzidakis described it as a positive step, particularly in light of a recent joint proposal by Greece and Poland for a European missile defense shield.
He also stressed that EU defense funds should prioritize strategic autonomy, with a focus on joint procurement and investments in Europe’s defense industry. Strengthening Europe’s industrial base in the defense sector, he argued, will be critical to ensuring the EU can defend itself independently in the years ahead.
