Cyprus Defence Minister says Cyprus' security enhanced with PESCO

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"I think that European cooperation on defense questions will rather contribute to saving money - we have about 50 percent of the United States' defense spending in Europe, but only 15 percent of the efficiency".

Twenty-three of the EU's 28 member nations signed up to the process, known as permanent structured cooperation, or PESCO.

Membership of the Permanent Structured Cooperation (PESCO) initiative will present an opportunity for Slovakia to bolster its defence capabilities, both for national purposes and in meeting its worldwide commitments, said Defence Minister Peter Gajdoš (a Slovak National Party/SNS nominee) who signed an intention for Slovakia to join PESCO along with State Secretary for Foreign and European Affairs, Ivan Korčok, in Brussels on November 13.

According to a statement released by Mogherini's foreign affairs council, the pact on the Permanent Structured Cooperation (PESCO) foresees the possibility of a number of European Union member states working more closely together in the area of security and defense.

Ireland, Portugal, and Malta are undecided whether to join. "Twenty-three member states engaging both on capabilities and on operational steps is something big", she said.

EU foreign policy chief Federica Mogherini hailed the decision as a "historic moment in European defense". Denmark and Britain, which have a special opt-out status, are not expected to participate. Mogherini, EU military chiefs and the European Defence Agency will then evaluate whether the plans are being respected.

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The so-called Permanent Structured Cooperation (Pesco) is designed in the first instance to facilitate joint investments in defence procurement and research and to project the...

Also, warnings by U.S. President Donald Trump that European allies must pay more towards their security seemed to have propelled the project forward.

Under the scheme, European Union member states will be able to develop greater military capabilities, invest in joint projects and increase the readiness of their troops.

The notification letter said PESCO "shall be consistent with commitments" under North Atlantic Treaty Organisation.

The responsibility of simplifying Europe's military transport was added to the declaration of intent at the proposal of Estonia.

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