Streamlining Defence Investments: EU's Bold Move

The European Commission on Tuesday announced significant proposed changes to EU regulations aimed at reducing bureaucracy for defence investments. In light of heightened security concerns stemming from Russia and questions about the U.S.'s commitment to Europe's safety, the initiative seeks to strengthen defence readiness across the continent.

Central to the proposal is the establishment of expedited national permitting systems, with authorities facing a 60-day deadline for decisions on defence-related permits. The Commission also emphasizes the importance of integrating defence readiness into competition rule enforcement.

The package includes guidance on sustainable defence investments and proposes relaxing some procurement regulations to support the bloc's defence fund. These proposals signpost a concerted effort to boost Europe's defence capabilities, though they'll require negotiations with EU governments and the European Parliament for implementation.

(With inputs from agencies.)