Translated by Maria Pia Longo
The European Union is accelerating the strengthening of its common defense. In an international context marked by the war in Ukraine, geopolitical instability, and the need to enhance European military capabilities, Brussels has launched SAFE (Security Action for Europe), the new financial instrument designed to support Member States' investments in the security sector[1].
The fund, promoted as part of the European plan to rearm and strengthen the defense industry, provides up to €150 billion in the form of long-term loans under favorable conditions. These resources can be used to finance joint projects among multiple countries, encouraging joint procurement of military equipment and investments in strategic sectors such as air defense, missile systems, drones, ammunition, cybersecurity, military mobility, and infrastructure. The objective is twofold: to boost the production capacity of the European defense industry and reduce dependence on external suppliers, while fostering cooperation among Member States.
To date, 19 countries have submitted applications to access the program. Poland leads the list with a request exceeding €43 billion, followed by Romania with around €16 billion and France with €15 billion. Italy ranks among the primary potential beneficiaries with an allocated share of €14.9 billion, while other states, such as Spain, have requested more modest amounts. Germany has taken a different stance, choosing not to join the instrument, as it can secure market financing under conditions deemed more advantageous thanks to its high credit rating. Brussels now aims to swiftly finalize the loan agreements to reallocate any unclaimed resources by the end of the year[2].
It is precisely over the use of these funds that a political debate has opened in Italy. During a parliamentary hearing, Minister of Foreign Affairs Antonio Tajani announced that the government intends to utilize SAFE, pointing to the availability of €14.9 billion. In the following hours, however, the Deputy Prime Minister clarified that Italy has merely "reserved" the maximum available amount and that a final decision on the actual portion to draw—hypothesized between €6 and €9 billion—will be made by the end of the year.
This clarification did not prevent tensions within the ruling coalition. Lega reaffirmed that any decision must be approved by Parliament, while opposition parties criticized the potential reliance on European loans, arguing it could lead to a further increase in public debt. Minister of Defense Guido Crosetto expressed a different view, contending that SAFE represents primarily an alternative financial tool to traditional government bonds and would allow Italy to sustain pre-planned programs without increasing overall military spending[3].
Meanwhile, the European Commission has urged Rome to clarify its position promptly. For Brussels, signing the loan agreements as soon as possible is essential to enable the rollout of funded projects and to allow time to redistribute unused resources to other Member States[4]. Italy’s decision, therefore, goes beyond an economic assessment, marking a significant milestone in building a stronger European defense—a dossier set to become one of the Union's main political priorities in the coming years.
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