For First Time … EU Summit Decides to Increase Military Spending

Leaders of the European Union (EU) decided during their summit in the French city of Versailles, which was held today, Friday, to increase the military spending of the member states for the first time in history, as the union has always focused on economic and trade affairs.

"We must invest more, and more effectively, in our military capabilities and innovative technologies. We have decided to significantly increase our defense expenditures, the bulk of which must be invested in filling our basic gaps," the summit's closing statement read.

The statement added that it is necessary to create new military capabilities in coordination among the members of the European Union.

European Union leaders intend to develop capabilities that will allow the Union to carry out large-scale military operations,

European Commission President Ursula von der Leyen said at the final press conference after the summit that the European Union, in coordination with the North ATLANTIC Treaty Organization ( NATO), will determine by mid-May the needs of the European Union countries for new weapons that will require additional investments.