European Union defence ministers have approved the national investment plans of eight member states, enabling the first disbursements under the €150 billion Security Action for Europe scheme. Cyprus Defence Minister Vasilis Palmas emphasised the EU’s commitment to strengthening security amid rising defence needs.

Industry leaders, including EUROFER President Henrik Adam, demanded urgent EU action to lower high electricity prices, which threaten competitiveness and investment in energy-intensive sectors. They seek costs around €50/MWh to support decarbonisation and restore industrial capacity amid rising global competition.