Editorial: Le Monde

• Europe has clearly sided with Ukraine following the US's position change with Trump's return.
• The increased Russian threat has led NATO European members to upscale their defense spending, aiming at 3-3.5% of their GDP.
• Countries most exposed to risk are willing to make budgetary sacrifices, while some countries, like France, with high public debts, are seeking European financial facilities.
• Germany has made significant financial progress, unlocking a 'bazooka' of funds for defense.
• The idea of a common loan managed by the European Commission, similar to the system that helped Europe during the Covid crisis, has been proposed.
• Ursula von der Leyen, President of the European Commission, wants to first repay the post-Covid recovery plan before considering new debt.

Conclusion: The financial debate around European defense has begun and requires lucidity and responsibility in financial management from all member countries to achieve buy-in.

---