UK-EU defence fund agreement remains within reach

European Council President António Costa has indicated that an agreement between the UK and the EU on joining the SAFE defence fund remains realistic, although previous negotiations have collapsed.

Britain initially refused to join the €150 billion fund because Sir Keir Starmer’s government did not want to pay the entry fee. According to Costa, however, the situation is changing as relations between London and Brussels gradually improve and the new government pushes for a post Brexit ‘reset’.

Another factor is growing cooperation between Britain and France in support of Ukraine, which points to wider security convergence. Costa said negotiations could take several more weeks or months, but he believes an agreement is likely.

Meanwhile, Starmer has signalled a willingness to consider taking part in a revised version of the SAFE fund, financed by joint EU debt.

The British government has not yet officially commented on his remarks.

(reuters, pir)