Brussels: EU ambassadors have reached an agreement on the £150 billion Security Action For Europe (SAFE) loans aimed at weapons regulation. The proposal, which marks a significant step in European defence collaboration, is set to be formally adopted by the General Affairs Council at their meeting on 27th May.
According to Emirates News Agency, while Hungary abstained from the vote, the regulation passed through a qualified majority, preventing Budapest from blocking the initiative. Ant³nio Costa, the President of the European Council, described the agreement as “an important step toward a stronger Europe,” highlighting its significance in bolstering the continent’s defence capabilities.