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Mitsotakis proposes Eurobond for European defense as Russia conducts nuclear drills

By Selin Atay
May 18, 2024 4:17 PM

Greek Prime Minister Mitsotakis proposes a new financial instrument to support Europe’s joint defense projects and outlines plans for a European air defense system

Greek Prime Minister Kyriakos Mitsotakis supports a separate financial instrument to fund Europe’s joint defense activities.
 
Mitsotakis suggested this instrument could be called a “Eurobond,” emphasizing that linking this European financial tool to key projects of the common defense policy would be more convincing to skeptical Europeans.
 
He specifically referred to the creation of a European air defense system, or “European shield,” designed to protect Europe and all European countries from various threats, akin to Israel’s Iron Dome.
 
In February 2024, Greece joined the European Sky Shield Initiative, launched by Germany in August 2022 following the outbreak of the war in Ukraine. This initiative brings together numerous countries, including NATO allies such as the United Kingdom, Slovakia, Latvia, Hungary, Bulgaria, Belgium, the Czech Republic, Finland, Lithuania, the Netherlands, Romania, Slovenia, Estonia and Norway.

NATO to intervene Ukraine-Russian conflict

Mitsotakis’ statements come in increased nuclear tensions, particularly following France’s announcement that NATO troops could be deployed to Ukraine if requested by Kyiv. On May 6, the Russian Ministry of Defense announced the start of drills involving missile units, aviation, and naval forces of the Southern Military District.
 
These exercises focus on various activities related to the preparation and deployment of non-strategic nuclear weapons. Kremlin spokesman Dmitry Peskov linked these drills to recent statements by some Western officials regarding the potential deployment of NATO troops to Ukraine.

UK warns Russian action in Ukraine

British Prime Minister Rishi Sunak warned of the potential consequences of Russia’s actions in Ukraine, accusing Moscow of weaponizing energy resources to exert control over the West.
 
In response, Russian Foreign Ministry spokeswoman Maria Zakharova dismissed Sunak’s claims as “desperate lies,” pointing out that it was Ukraine, not Russia, engaging in provocative actions near the Zaporizhzhia Nuclear Power Plant. Zakharova further countered Sunak’s accusations about gas supply, stating that contrary to the Prime Minister’s claims, Russia had not halted gas shipments.
 
Source: Newsroom 
Last Updated:  May 31, 2024 4:42 PM