According to journalists, defense spending in the EU is a national issue. But Russia’s large-scale invasion of Ukraine has brought to the fore the debate about the benefits of joint procurement.
The European Union has found a way to improve the situation with the military-industrial complex. Thus, a country that invests in defense projects may have more time to reduce its national debt. This was stated by European Commission president Ursula von der Leyen, Reuters writes.
According to him, the change will go beyond what has been agreed between EU governments so far. The inclusion of such a rule in EU debt and financial legislation could represent a major change in the bloc’s defense and industrial policies.
“There is now broad support in the Council for increases in defense spending to be considered an important factor in assessing whether an EU member state has an excessive budget deficit,” von der Leyen said.
Stating that investments should be made on the basis of cooperation between European countries, he said: “This will create a special incentive for cross-border projects in Europe.”
Journalists pointed out that defense expenditures in the EU are a national issue. But Russia’s large-scale invasion of Ukraine has brought to the fore discussions about the benefits of joint procurement and production of military equipment.
Von der Leyen said the new initiative could be a “game changer” for European Union defense.
Let us recall that political scientist Nikolai Davidyuk said that the European Union could further limit Russia so that it is completely “walled off” economically. For example, the expert says that the Danes and Norwegians can block the movement of oil tankers, and although this may increase oil prices slightly, Norway will benefit from this.
Source: Focus
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