What Happens Next
Early signs show strong demand. SAFE has already received requests covering nearly 700 projects, with close to €50 billion sought for air defence, ammunition, missiles, drones, and maritime systems. Up to €22.5 billion in pre-financing could be released by early 2026.
Timelines are tight. Europe must modernise its defence industry, sustain support for Ukraine, and respond to increasingly explicit warnings from NATO and Washington.
As EU officials increasingly acknowledge, the central question has changed.
Europe is no longer asking whether it should act—but whether it can act fast enough.
