Senior European politicians, military figures and financiers have signed a joint letter supporting the launch of a £100bn Defence Security & Resilience (DSR) bank for rearmament in the UK and the Continent.
The European Parliament also endorsed a white paper last week which urged members to back such an institution.
One proposal for a multi-lateral lender has been lodged by former Nato official and British Army officer Rob Murray.
It has been backed in a letter signed by influential supporters led by Lord [Stuart] Peach, Air Chief Marshal, former Chief of Defence Staff and chairman of Nato’s Military Committee.
Statement of intent: A letter signed by influential supporters said Democratic allies faced their most acute security challenges since the end of the Cold War
Other signatories include former US Republican Senator Richard Burr and General Rick Hillier, the former chief of the defence staff of Canada.
The letter makes clear that ‘democratic allies face their most acute security challenges since the end of the Cold War’.
Murray’s plans for the DSR include lending countries money for defence at low rates over extended periods.
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