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The EU should borrow together once again — this time for common defense
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The EU should borrow together once again — this time for common defense

Max Bergmann and Benjamin Haddad discuss why, particularly in light of the Russia-Ukraine crisis, the European Union should develop its own integrated defense industry and make significant investments in modernizing European militaries.

Russia’s aggression against Ukraine has changed everything. With war back on the Continent once again, European security can no longer be taken for granted — and leaders across the European Union have taken notice. German Chancellor Olaf Scholz made history on Sunday, announcing a dramatic increase in German military spending. And countries like Sweden have broken with neutrality, announcing weapons delivery to Ukraine. The EU is delivering some €500 million worth of military equipment to a party in conflict – something that was unthinkable only a few weeks ago.

But while talk of defense is cheap, actually building a stronger military costs real money and political courage. As Scholz recognized, a quick and massive injection of funds is necessary to immediately modernize European capabilities. Fortunately, there’s a precedent as to how this goal could be achieved, and swiftly.

The above excerpt was originally published in Politico Europe. Click here to view the full article.

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Authors

Max Bergmann

Senior Fellow

Benjamin Haddad

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