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The Economic Times

National / The Economic Times

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$500 billion crisis fund may be tapped for defence: ESM chief

Europe's crisis fund, the European Stability Mechanism, may now lend billions for defense. This move aims to bolster military strength amid geopolitical turmoil. Countries could access funds for defense spending without strict economic conditions. This repurposes a fund initially created during the euro zone debt crisis. The initiative could particularly benefit smaller nations bordering Russia.

30 Jan 2026 4:25 pm