Canada seals deal on EU defence procurement as Munich summit tests transatlantic ties

The Canadian Press: Defence Minister David McGuinty announced Ottawa had signed onto the European Union’s 150-billion euro program called Security Action for Europe, or SAFE, Saturday at the Munich Security Conference.

The program allows EU countries to access low-interest loans to buy military gear and weapons, as part of an initiative called ReArm Europe aimed at weaning the continent off relying on the U.S.

As the first non-European country taking part in SAFE, Canadian companies can partner with European peers to bid on joint projects and access favourable financing…