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French President Emmanuel Macron has announced a significant boost to France’s defense budget, citing Russia as the primary threat to national and European security. Speaking ahead of Bastille Day, Macron warned that freedom hasn’t faced such a dire threat since 1945. With €64 billion planned for defense by 2027, Macron called on citizens to prepare for national sacrifice. Our reporter, Paridhi Bhanot, breaks down what this means for Europe, India, and global stability amid budget deficits, rising tensions, and a looming security crisis.

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00:00On the eve of Bastille Day in France, the French President Emmanuel Macron pledged to increase
00:14France's defence budget. The increase is substantial and will have to be approved by
00:19the French Parliament. But the move shows France's increasing concerns, not just about
00:24European security but also about national security. So what are these defence hikes? Macron has
00:30proposed to increase France's military expenditure by 6.5 billion euros in the next two years.
00:35In 2026, he has promised to pump about 3.5 billion euros and in 2027, about 3 billion euros.
00:43He has also said that France will aim to spend 64 billion euros in an annual defence spending
00:48in 2027. This will be double the 32 billion in annual spending when he became President
00:55in 2017. Now, there are many reasons that the French President has cited for this decision.
01:02While making the announcement last evening, Macron said, to be free in this world, we must be
01:07feared and to be feared, we must be powerful. He also made a reference to Russia as the main
01:12enemy, given the security situation on Europe's doorstep in Ukraine. Terrorism and online attacks
01:19are also a worry for France, said the President, justifying the hike in military spending.
01:24Now, the timing of his announcement is crucial. It comes in the backdrop of a complicated geopolitical
01:30situation emerging with the United States, which has repeatedly taken digs at the EU for
01:35not having a strong security mechanism or a framework outside of NATO. However, the proposals
01:41will need to be passed by the French parliamentarians, who don't see eye to eye with Macron when
01:46it comes to defence budget. Conservative and far-right parties have supported greater defence
01:51spending, but on the other hand, left-wing parties accuse the government of sacrificing
01:56social welfare benefits for military spending. The decision by Macron has been made. The proposal,
02:02of course, is going to be tabled. It is going to be up to the French parliamentarians to
02:05decide whether or not this hike, this 6.5 billion euro hike in military spending is going
02:11to take place over the next two years. But one thing is for sure, when it comes to defence
02:15and security, France wants to change how things stand. Not just for it nationally, but also
02:22for the European Union. Parity Bhannot from Paris for One India.
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