Italy Reverses Course, Will Request Up to €14.9B in EU SAFE Defense Loans

Italian Foreign Minister Antonio Tajani told parliament on July 28, 2026 that Italy will request its full €14.9 billion allocation under the EU's Security Action for Europe (SAFE) joint-borrowing defense scheme by year-end, reversing an earlier position (from May) that domestic energy-cost pressures and election-year politics might force Rome to forgo the offer. Tajani later clarified the actual drawdown would likely be lower — 'six, seven, eight or nine billion' — with a final decision at year-end. The European Commission had grown publicly impatient with Italy's hesitancy, warning 'we have no time to lose' as Italy's delay held up roughly €10 billion in unspent SAFE funds sought by Poland and Lithuania. Italy's reversal is a notable data point in the broader EU push toward collective defense financing as a hedge against reduced US commitments.