"The European Commission plans to take €10 trillion of citizens' savings for EU defense. This is economic suicide. *Get your money out of European banks. They're going to take your money from your bank account."

Original publisher’s rating

False. The controversy and heated discussions on social networks were sparked by two EU initiatives. First, the European Commission presented the White Paper for European Defence – Readiness 2030, which aims to enable member states to invest more rapidly and significantly in their defense sectors. Second, the Commission introduced its strategy for a savings and investment union. This strategy is designed to create more incentives for investment, allowing Europe-wide funds to be established, making it easier for citizens to invest their money in various sectors, including environmental, digital technology and defense. But this doesn't mean the EU has access to private savings accounts. It's not possible based on the current legal system. On the contrary, a number EU regulations are designed to protect citizens' savings.

Reviewed by Deutsche Welle ↗ · March 29, 2025