MITSOTAKIS: EU DEFENSE COULD BE FINANCED THROUGH NEW EUROPEAN BORROWING INSTRUMENT
Greek Prime Minister Kyriakos Mitsotakis has proposed the creation of a new EU-level borrowing mechanism to finance European defense, placing the issue at the center of ongoing discussions on the bloc’s long-term fiscal architecture.
Speaking in Sofia during a series of diplomatic meetings across the Balkans, Mitsotakis argued that Europe’s ambitions in security and defense increasingly exceed its current financial capacity.
“European defense could be financed through a new European borrowing instrument distributed in a fair way,” he said.
EU DEFENSE AND THE NEXT BUDGET BATTLE
The proposal comes amid negotiations over the EU Multiannual Financial Framework (MFF), where member states are expected to face difficult trade-offs between defense, cohesion funding, and industrial competitiveness.
Mitsotakis stressed that Europe’s priorities often surpass available resources, signaling that new collective financing tools may be necessary to sustain strategic autonomy.
BALKANS FOCUS: ENERGY AND CONNECTIVITY
During talks with Bulgaria’s leadership, the Greek Prime Minister emphasized strengthening energy and infrastructure connectivity in Southeast Europe.
Key priorities included:
- Expansion of the Vertical Gas Corridor
- Cross-border energy security cooperation
- Transport infrastructure linking North–South corridors
- Better access to EU funding for transnational projects
He highlighted Greece’s rapid implementation of the IGB gas pipeline, positioning the country as a critical energy hub for Southeast Europe.
ENERGY SECURITY AS GEOPOLITICAL POWER
Mitsotakis underlined Greece’s emerging role as an energy gateway, supplying gas and infrastructure routes to countries further north.
The vision includes a broader land-based corridor connecting:
- Greek ports
- road and rail networks across the Balkans
- Ukraine as a potential endpoint in future connectivity planning
This would significantly enhance Greece’s geopolitical weight within Europe’s security and energy architecture.
DEFENSE COOPERATION AND REGIONAL SECURITY
The Greek leader also referred to defense cooperation in the region, noting Greece’s role in supporting allied airspace protection and broader NATO/EU security coordination.
He emphasized that European defense must be built on:
- shared financing mechanisms
- fair burden distribution
- long-term strategic planning
EU BUDGET PRESSURE AND POLITICAL TRADE-OFFS
Mitsotakis warned that negotiations over the next EU budget will be highly complex, as European ambitions continue to grow faster than available financial resources.
He called for safeguarding:
- Cohesion policy funds
- Agricultural and primary sector support
- Fair distribution within competitiveness instruments
GREECE’S REGIONAL STRATEGY AND EU PRESIDENCY 2027
The Balkan diplomatic tour reflects Greece’s broader strategy to strengthen its role as a stabilizing force in Southeast Europe, ahead of its preparation for the EU Council Presidency in the second half of 2027.
Athens aims to position itself as a key intermediary between Western Europe, the Balkans, and the wider Eastern Mediterranean.
Source: pagenews.gr