European countries have found themselves at the "children's table" of negotiations on the future of Ukraine due to decades of underfunding of defense. This was stated by Armin Papperger, Director General of Rheinmetall, a German defense company, UNN reports citing the Financial Times.
If you do not invest, if you are not strong, they treat you like children. For the last 30 years, Europeans have been very comfortable saying: okay, spend 1% (of GDP on defense), it's okay,
He believes that Europeans have become like children who have been seated at a separate table while the United States and Russia discuss the future of Ukraine.
If parents have lunch, children have to sit at another table. The United States is negotiating with Russia, and no Europeans are sitting at the table - it has become absolutely clear that Europeans are children,
According to official data, between 2021 and 2024, the total defense spending of the EU countries increased by more than 30% and reached approximately 326 billion euros, which is about 1.9% of the bloc's GDP.
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Trump, in turn, began to put strong pressure on NATO members, demanding an increase in defense spending to 5% of GDP.
Papperger noted that despite a slight increase in defense spending in Europe, the demand for weapons will remain high due to the threats from Russian aggression. He emphasized that even in the event of a ceasefire between Ukraine and Russia, Europe will have to continue investing in defense, as the threat from Russia will not disappear.
Europeans and Ukrainians have nothing in their warehouses,
Rheinmetall's share price, which has almost quadrupled since Russia's full-scale invasion of Ukraine, initially fell after Trump's plan for peace talks was made public last week.
Since then, however, shares of European defense companies, including Rheinmetall, have rallied as investors have bet that European governments will have to significantly increase military spending in response to growing concerns about the United States abandoning its longstanding role as a guarantor of European security.
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Papperger, who is believed to have been the target of an averted assassination attempt by Russia last year, expressed doubt that Trump's peace talks would actually force Russia to "cease fire.
He stated that his company would benefit even in the event of a ceasefire, as Europe would continue to invest in weapons in the face of Russian aggression.
Even if the war (in Ukraine) ends, I think it is wrong to expect a very peaceful future,