It will have to be done with debt. And many European governments are highly in debt.
And with the trade situation the cost of equipment has just gone up.
Amid calls for Europe to rearm, competing ideas are circulating around how to ensure European nations can take on Russia in a possible future war without U.S. backing. While the idea of a rearmament bank may carry some appeal, it’s less clear that there’s any new money for what is likely to be a very expensive enterprise.