Frederiksen argued the EU needs the funds to bolster its defenses amid Russia’s assault on Ukraine.
“For me, the most important thing is to rearm Europe,” Frederiksen said. “That’s my starting point and that’s my conclusion in all discussions, because if Europe is not able to protect ourselves and to defend ourselves, then it’s game over at some point.”
Europe, she added, is “running out of time because of Russia’s behavior” and needs “a new profile on the budget.”
Negotiations for the next budget — the EU’s Multiannual Financial Framework — for the years stretching from 2028 to 2034 are set to start after the summer. Denmark’s stance is key, as the country will hold the Council presidency starting in July.
Frederiksen signaled a fiscal U-turn in December, saying Denmark was looking at European common debt — traditionally a taboo topic for the Nordic country — with “new eyes.” In her New Year’s speech she doubled down, calling for more investment and arguing that state aid may be necessary to revive European economies.
In March, Danish officials also attended a secret gathering of senior finance ministry officials from Sweden, Denmark, Finland, Poland, the Netherlands and the United Kingdom to float the idea of creating a supranational bank specifically for the purpose of jointly buying weapons and slashing the cost of defense procurement, according to officials familiar with the matter.
