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What Happens Next
Early signs show strong demand. SAFE has already received requests covering nearly 700 projects, with close to €50 billion sought for air defence, ammunition, missiles, drones, and maritime systems. Up to €22.5 billion in pre-financing could be released by early 2026.
Timelines are tight. Europe must modernise its defence industry, sustain support for Ukraine, and respond to increasingly explicit warnings from NATO and Washington.
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