EU proposes $1.2 billion plan to manage growing cybersecurity threats

The European Commission (EU) recently proposed a $1.2 billion plan to manage growing cybersecurity threats.

“The EU Cyber Solidarity Act will strengthen solidarity at Union level to better detect, prepare for and respond to significant or large-scale cybersecurity incidents, by creating a European Cybersecurity Shield and a comprehensive Cyber Emergency Mechanism,” the EU executive said in a statement.

According to Reuters, the plan also includes setting up a EU Cybersecurity Reserve consisting of incident response services which will intervene at the request of an EU country or institution in the event of a significant or large-scale cybersecurity incident.

The Cyber Solidarity Act will require agreement from EU countries and the European Parliament before it can become law.

Source: https://www.reuters.com/technology/eu-proposes-12-bln-plan-counter-growing-cybersecurity-threats-2023-04-18/