https://sputnikglobe.com/20230304/eu-defense-industry-should-switch-to-wartime-economy-european-commissioner-1108002685.html

EU Defense Industry Should Switch to Wartime Economy, European Commissioner Insists

EU Defense Industry Should Switch to Wartime Economy, European Commissioner Insists

Sputnik International

Commissioner for Internal Market of the European Union Thierry Breton says that the bloc needs to shift to a wartime economy model.

2023-03-04T04:48+0000

2023-03-04T04:48+0000

2023-04-12T17:05+0000

economy

economy

european union (eu)

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"I believe it is time that the European defence industry moves to a wartime economy model to cater for our defence production needs," Breton told UK media, adding that he was "determined to support the production ramp-up of the European defense industry to face the realities of a high-intensity conflict — starting with the question of ammunition." Diplomats told a British newspaper on Friday that several EU member states are skeptical of Breton’s plans. The newspaper said that Breton is working with EU foreign policy chief Josep Borrell on a plan to boost arms production by expanding factory work and is pressing banks and other financial institutions, some of which boycott arms companies, to increase their lending. A German magazine reported on Wednesday that the European Commission had developed a plan to increase the production of munition shells, including 155mm heavy artillery howitzer ammunition, to deliver them to Ukraine and boost the bloc's own reserves.

https://sputnikglobe.com/20221103/eus-economy-may-collapse-in-three-years-after-banning-russian-gas-prof-warns-1103692641.html

2023

News

en_EN

wartime economy, european union thierry breton