The President of the Government, Pedro Sánchez, expressed his willingness to increase Spain's defense spending to reach 2% of GDP before 2029, the date initially set. During a press conference following the summit of European leaders, he indicated the need to make an early effort to achieve this goal.
In response to whether he would increase investment to reach this level of spending ahead of schedule, Sánchez stated: "Therefore, the answer is yes." He committed to bringing this stance to the opposition and the various parliamentary groups in an upcoming meeting, excluding Vox.
The president was in favor of the European Commission's proposal to relax fiscal rules to invest more efficiently in defense and conduct a common assessment of the necessary capabilities across Europe as a whole. However, he rejected the suggestion to redirect Cohesion funds to military projects, arguing that such resources are intended for territorial and social development.
Sánchez supported the plan to mobilize 150 billion euros through loans, but emphasized the importance of including transfers in this financing. He recalled that the debate on this issue during the Covid-19 pandemic began with the activation of escape clauses, went through loans, and ended with transfers, advocating for opening this discussion within the multiannual financial framework and the European budgets.
