Denmark creates a fund for armament worth around 6.7 billion euros

(Patria) - Denmark intends to create a rearmament fund worth 50 billion kroner (around 6.7 billion euros) due to the Russian threat, the Danish government announced yesterday.

This and next year, NATO alliance members plan to invest in the so-called acceleration fund for the rapid procurement of defense assets, said Danish Prime Minister Mette Frederiksen at a press conference in Copenhagen.

The message to the head of the armed forces, Michael Hyldgaard, is: "Buy, buy, buy!", Frederiksen said, adding that speed is now the only thing that matters.

- Denmark will consequently spend more than three percent of its GDP on defense in 2025 and 2026, the prime minister said, calling it the highest level in more than half a century.

U.S. President Donald Trump has pressured Denmark, expressing interest in taking control of Greenland, which is part of the Danish realm.

Trump said that Denmark, a country of six million people, could never independently defend the world's largest island.

Trump also for some time demanded that his country's NATO allies significantly increase their defense spending.

The 50 billion kroner fund is primarily justified by Russia, which is perceived as a threat.

According to the Danish Defense Intelligence Service (FE), Russia could be ready for a major war in Europe within five years of the end of the conflict in Ukraine if the U.S. does not come to the aid of its NATO allies.

Although the FE sees no specific plans by Russia for war against any member state of the Alliance, Frederiksen said that Denmark must significantly strengthen its defense to protect itself and avoid war.