Snapshots

COVID-19 Puts EU Defense Spending in Doubt

May 12, 2020 | 16:09 GMT

On May 12, the chief executive of the European Defence Agency, Jiri Sedivy, said the bloc will probably reduce defense spending in its budget for the 2021-2027 period as EU governments focus their resources on dealing with the economic fallout from the pandemic. After the 2016 Brexit referendum, a group of countries led by France pushed for deeper defense cooperation in the European Union to reduce the bloc’s military reliance on the United States, streamline defense spending by pooling resources, and better prepare Europe for geopolitical challenges in the 21st century, which include an emerging China and a potentially aggressive Russia. But Europe’s deepening recession due to COVID-19 has now put these plans in doubt as governments increasingly prioritize stimulus measures, such as granting cheap loans for companies and providing greater financial assistance to low-income households. ...

Article Search

Copyright © Stratfor Enterprises, LLC. All rights reserved.

Stratfor Worldview

OUR COMMITMENT

To empower members to confidently understand and navigate a continuously changing and complex global environment.