Italy Urged to Decide on EU Defence Loans by May Deadline
Defence Minister Guido Crosetto urged the Treasury to decide on tapping a 14.9 billion euro EU arms fund by May 31 while energy costs remain the top priority.
Italy must decide by the end of May whether to tap 14.9 billion euros in European Union loans for defense spending. The Security Action for Europe (SAFE) instrument offers Rome lower interest rates than market borrowing to meet NATO targets. Securing these funds would support a planned 12 billion euro military expansion through 2028.
### Treasury Weighs Debt Against Defense Defense Minister Guido Crosetto confirmed on Thursday afternoon he has twice urged the Treasury to approve the SAFE loan application. Contracts must be signed by the end of May to access the joint borrowing scheme. Crosetto stated he remains neutral on the final outcome as the deadline approaches.
