Europe needs a defense fund to help strengthen its security and enhance its deterrence capabilities, stated German Foreign Minister Annalena Baerbock.

“It would be an important step to relax the European Union’s Stability and Growth Pact so that member states can continue to increase their national defense spending,” Baerbock said, while adding that this alone would not be sufficient for all countries.

“That’s why we need a European defense fund capable of meeting this challenge,” she added.