THE ESTABLISHMENT OF A EUROPEAN DEFENCE FUND IN THE FUNCTION OF THE SECURITY AUTONOMY OF THE EUROPEAN UNION

Abstract

In line with the increased level of risks, threats and challenges to the security of the European Union, on the initiative of the European Commission under the leadership of President Jean-Claude Juncker, on June 7, 2017, the European Defence Fund was established with the aim of establishing the European Union's security and strategic autonomy through the strengthening of military capacity of member states. By determining common strategic priorities for enhancing military capabilities in accordance with the regulations, European Union member states are obliged to establish a strategy for addressing military capacity shortages. In the present global aspect, the allocation of significant financial resources for the need to finance rising military demands is an important turning point in the field of international relations and it directly affects the macroeconomic and security trends in the world.The paper examines the potential of the European Defence Fund within the framework of the new comprehensive package for the defence of the European Union and the perspectives of sustainable financing in the two planning stages through systematic financial analysis. The first phase involves research in the field of defence technologies, while in the focus of the second phase are development and acquisition. The analysis will also include two financial packages, within the fund, which is intended to fund programs and projects in two time intervals, the first by 2020, and the second from 2021 to 2027.The research work will emphasize and the justification of the establishment of the European defence fund in terms of financial tools for public financing of which it is composed, and the impact of the fund on the activation and recruitment of industrial capacities of the member states of the European Union, ie the employment rate of the population of Europe, and the impact on interoperability between armed forces of EU member states.