That's not how any of this works: you can't "buy" a functioning military, no matter how much you spend.
You need to order, get built and train on the equipment and vehicles.
You have to recruit and train a LOT of people.
You have to expose them to actual combat.
Thia takes many, many years.
Add to that that military service is something most Europeans don't want to do, and you are looking at a decade before the continent is in actual fighting shape no matter how much money you spent .
Thia is just about handing money to domestic defense contractors.
If you actually wanted to build up Europe's defense, you would look were you can buy a lot of tested stuff relatively cheap - South Korea comes to mind for tanks. But that won't happen, because Europe can only justify defense spending if it's on EU companies.