The EU seeks to switch the European arms industry to a "war economy": what is being proposed
Kyiv • UNN
The EU seeks to develop the European arms industry so that European countries can move to a "war economy" in response to Russia's invasion of Ukraine.
The European Commission on Tuesday will propose ways to develop the European Union's arms industry so that European countries can move to a "war economy" in response to Russia's invasion of Ukraine. Reuters writes , UNN reports.
Details
A package of proposals to encourage EU countries to buy more weapons together from European companies and to help such firms increase their production capacity will be announced tomorrow during a meeting by European Industry Commissioner Thierry Breton.
We need to change the paradigm and move to a war economy. This also means that the European defense industry must take more risks with our support.
Breton also emphasized that the possibility of another US presidential term for Donald Trump, who has questioned Washington's commitment to NATO, means that Europe must do more for Ukraine to protect itself.
In the current geopolitical context, Europe must take greater responsibility for its own security, regardless of the outcome of our allies' elections every four years.
US Supreme Court leaves Trump on Colorado ballotMar 4 2024, 03:40 PM • 22419 views
As a former CEO of a French technology company, Burton also noted that Russia's war in Ukraine has prompted many European countries to increase their defense spending. However, EU officials are convinced that purely national efforts are not as effective and are seeking to stimulate EU policy on the defense industry.
The publication, citing analysts' data, notes that the war showed that the European industry was poorly prepared for some serious challenges, such as a sudden surge in demand for large quantities of artillery ammunition.
Breton's proposals include the creation of a European version of the US Foreign Military Sales scheme, under which the United States helps other governments buy from US arms companies.
Another proposal would allow the EU to force European defense firms to prioritize European orders during the crisis.
Breton will also call for the creation of a special EU fund of 100 billion euros for defense projects.
Commission officials say they want Kyiv to participate in the proposed new schemes to strengthen joint procurement and production capacity, even though Ukraine is not part of the EU.
Our mission here is to treat Ukraine almost like a member state.
Optional
Implementation of these proposals requires the approval of the 27 national governments of the EU, which have often been reluctant to cede powers in defense and military matters, as well as the European Parliament.
It is noted that these proposals will also be carefully studied by NATO. Earlier, the Alliance said it welcomed the EU's efforts to help European defense, but warned that they should not duplicate or contradict the existing rules of the transatlantic alliance with their proposals.
Breton's package is expected to include about 1.5 billion euros ($1.63 billion) in new money by the end of 2027. According to Reuters, this is a fairly modest amount in the world of large-scale defense procurement.
Officials point to the need to introduce the above proposals in the EU, as this package will create a legal framework that will allow for more coordinated planning of defense spending in the coming years.
