What does PESCO mean in Companies & Firms?

pesco

The Permanent Structured Cooperation (PESCO) is the part of the European Union's (EU) security and defence policy (CSDP) in which 25 of the 27 national armed forces pursue structural integration (the exceptions being Denmark and Malta). Based on Article 42.6 and Protocol 10 of the Treaty on European Union, introduced by the Treaty of Lisbon in 2009, PESCO was first initiated in 2017. The initial integration within the PESCO format is a number of projects which launched in 2018.Together with the Coordinated Annual Review on Defence (CARD), the European Defence Fund and the Military Planning and Conduct Capability (MPCC) it forms a new comprehensive defence package for the EU.PESCO is similar to enhanced co-operation in other policy areas, in the sense that integration does not require that all EU member states participate.

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