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The head of the European Commission said that Europe hopes to mobilize $840 billion in defense spending to increase. | Real Time Headlines

European Commission President Ursula von der Leyen held a press conference at the European Commission headquarters in Brussels on March 4, 2025 and held a press conference at the European Commission headquarters in 2025.

Nicolas Tucat | AFP | Getty Images

European Commission President Ursula von der Leyen said on Tuesday that the EU’s new plan to increase its defense spending could mobilize as much as 800 billion euros ($841 million).

“Europe is ready to significantly increase its defense spending. Both should address the short-term urgency of taking action and supporting Ukraine, while also addressing the long-term need to take more responsibility for our own European security,” she said in a press statement.

This is a developing story, please check out the update.

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