Germany plans to invest 10 billion euros in various types of drones in the coming years. This was announced by Defense Minister Boris Pistorius during the meeting of NATO defense ministers in Brussels, reports „Reuters“, reports News.bg.
Pistorius specified that the country will offer to take a leading role in building a European air defense shield and will increase its participation in airspace protection. A ministry spokesman added that Germany will station two Eurofighter jets in the Polish city of Malbork from December to March.
Meanwhile, it has become clear that German Chancellor Friedrich Merz will push for easing regulations in Europe's banking sector - another attempt to stimulate growth in the continent's largest economy.
The financial industry in Germany has for years expressed dissatisfaction with the burden of regulatory requirements, which it says are leading to a loss of market position for European banks compared to those outside the EU. Merz plans to raise the issue with his social democratic coalition partners, as well as other European governments.
Banking regulation in Europe is largely determined at the European Union level. Brussels is currently debating whether to follow the approach of the Donald Trump administration in repealing some rules introduced after the 2008-2009 financial crisis. Critics say excessive regulation hinders investment, raises costs and slows economic growth.
Merz acknowledged that increased capital buffers and reserves for banks have strengthened financial stability, but warned that these measures have caused serious damage to the German economy.
“Banks are too heavily regulated”, he said.
The chancellor expressed concerns that European banks are losing ground to their American competitors - a trend that could worsen if Trump's business-oriented policies continue. German financial institutions hope that EU finance ministers will ask the European Commission to review the sector's competitiveness and propose concrete reforms.
Germany remains the only major G7 economy to have contracted in the past two years. Forecasts suggest that the country will only achieve minimal growth this year.