Italy is set to propose a European guarantee scheme aimed at unlocking up to €200 billion in investments for the defence and aerospace industries. The info comes via Reuters (gated) citing sources familiar with the matter.
Economy Minister Giancarlo Giorgetti will present the plan at an EU finance ministers' meeting in BrusselsEU is exploring ways to strengthen defence spending through joint borrowing, EU funds, and an expanded role for the European Investment Bank (EIB)Decisions expected by June Italy is particularly focused on minimizing the impact on its already strained public financesproposed scheme, named the European Security and Industrial Innovation Initiative, would use €17 billion in European guarantees to catalyze the larger investment over a period of up to five yearsEUR has found a tailwind from the proposals out of Germany to spend on infrastructure and defense. This would seem likewise, at the margin.
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