European Union proposes new defense fund

The European Commission on Wednesday revealed a new defense fund to build advanced technologies like drones and robotics.

The new fund will inject into the EU's economy $6.2 billion each year after 2020 to support defense cooperation. It requires a consensus of EU members to take effect. EU High Representative for Foreign Affairs and Security Policy Federica Mogherini said the EU is not and will not be a military alliance. This is only a matter of maximizing the added-value the EU brings to its members' individual security and defense.

Source: VOV5