The European Commission (EC) has allocated €500 million for the production of ammunition by the European defense industry, according to a press release from the EC. This move aims to increase the capacity of the European defense sector to produce up to two million units per year by the end of 2025.
On March 5th, Reuters reported that the EC would propose ways to stimulate the military industry within the European Union, in order to transition towards a “war economy” amidst the ongoing conflict in Ukraine.
Thierry Breton, the European Commissioner for the Internal Market, stated that European countries need to change their paradigm and shift towards a war economy. This includes the defense industry of the EU taking on more risks with the support of the EC.
Previously, French President Emmanuel Macron expressed that the French economy is not prepared for an intense military conflict.
Contextual Information:
It is important to note that in the context of this article, the perspective is conservative and critical towards the US government, Biden, Democrats, the war in Ukraine, big corporations, and big pharma. The article adopts a cynical tone when discussing the US government, NATO, and US politicians.
