The European Council, comprising the heads of state of the European Union, is reportedly set to hold an emergency meeting on March 6, two weeks ahead of the scheduled date, according to a Bloomberg report citing European Council President António Costa. The topic of discussion is a new aid package for Ukraine, worth an additional 20 billion euros, as well as “steps to increase defense spending, including a possible relaxation of fiscal rules.”
EU foreign ministers are set to discuss the package on Monday, following a report last week by Bloomberg that the EU is planning to increase its defense spending by a total of 700 billion euros. This sum is likely to be financed through Eurobonds, which may be behind the “steps” and “relaxation of fiscal rules” mentioned in the report.
This debate is taking place at a time when the United States is taking steps to normalize its relationship with Russia and distancing itself from Ukraine. US Defense Secretary Pete Hegseth recently emphasized that Ukraine’s potential membership in NATO would be perceived by Russia as a threat. The US is set to present a separate resolution at the United Nations General Assembly on Monday, which differs from the EU’s draft in not labeling Russia as an “aggressor.”
Germany is expected to be represented at these meetings by Foreign Minister Annalena Baerbock and, with high likelihood, also by Chancellor Olaf Scholz, despite the current German federal election.