Warsaw, 12 April 2025
The two-day informal meeting of the EU Ministers for Economic and Financial Affairs reached its conclusion on Saturday. The second day of the meeting was devoted to the topic of financing Europe’s defence and security.
The Council was chaired by Minister Andrzej Domański. The meeting was also attended by Deputy Minister Paweł Karbownik.
The European Commission was represented by Executive Vice-President for Prosperity and Industrial Strategy Stéphane Séjourné, Commissioner for Financial Services and the Savings and Investments Union Maria Luís Albuquerque, and Commissioner for Economy and Productivity and Implementation and Simplification Valdis Dombrovskis.
Together with EU finance ministers we discussed what I believe is the most pressing issue right now in Europe: security and defence financing. We welcome the ReArm Europe Plan, the most ambitious defence plan so far presented by the European Commission, with up to 150 billion euro loan mechanism and greater flexibility in EU fiscal rules. Our discussions were enriched by the input from the Bruegel institute report commissioned by the Polish Presidency on how to enhance the effectiveness and adequacy of Europe’s defence spending to improve our security.
Andrzej Domański, Polish Minister of Finance
Defence financing solutions
The Saturday session focused on issues of security and defence. The European Commission presented the ReArm Europe Plan. Ministers discussed current and future solutions for financing defence activities in the EU, emphasising the principle of solidarity and the urgency of taking action. The discussion began with an analysis published by the independent Bruegel Institute at the invitation of the presidency.
Europe is faced with grave security threats in a rapidly changing geopolitical environment. Rebuilding our defensive capabilities requires significant and sustained investment. At today’s ECOFIN meeting, I presented ministers with the Commission’s ReArm Europe Plan/Readiness 2030 proposals to facilitate these necessary investments in defence, while preserving fiscal sustainability. Together, we can and will take responsibility for defending our freedoms and values.
Valdis Dombrovskis, Commissioner for Economy and Productivity, Implementation and Simplification
Further steps
The ministers agreed to continue the discussion on the EU response to global challenges, improving the competitiveness of the European economy and strengthening defence efforts in the EU at the next ECOFIN Council meetings in May and June this year.
The Warsaw meeting concluded with a press conference of the ECOFIN Council President. Acknowledgement was expressed to the Polish hosts for organising the meeting in a spirit of unity and responsibility in the face of a changing geopolitical environment.
Source – Polish EU Presidency