The European Commission proposed on Tuesday new joint EU borrowing of 150 billion euros ($157.76 billion) to lend to EU governments for defence as part of an overall 800 billion total financing effort to boost Europe's defence capabilities.

The European Commission has proposed borrowing up to 150 billion euros to bolster EU defence as a response to Russia's actions and uncertainty over U.S. protection. This move represents a significant shift in Europe's policy,

BRUSSELS - European Commission President Ursula von der Leyen on Tuesday unveiled an 800-billion-euro plan to significantly increase defense spending across the bloc. She said that in response to escalating security threats across the European Union, Europe had entered "an era of rearmament".