EU proposes moving arms industry to 'wartime economy'

European industry commissioner Thierry Breton will put forward proposals to encourage EU countries to jointly buy more weapons from European companies and help them increase their production capacity.

“We need to change the model and move to a wartime economy . This also means that the European defence industry must take more risks with the support of the EU,” Mr Breton said.

EU High Representative for Foreign Affairs and Security Policy Josep Borrell (centre) speaks with Spanish Defence Minister Margarita Robles (left) and European Commissioner for the Internal Market Thierry Breton (right). Photo: Reuters

The Russia-Ukraine conflict has prompted many European countries to increase defense spending. But EU officials say that individual national efforts are not enough. They want EU agencies to play a bigger role in the bloc’s overall defense industrial policy.

The conflict has clearly shown that European industry is ill-prepared for some major challenges, such as a sudden surge in demand for large quantities of artillery shells, analysts say.

Mr Breton’s proposals include creating a foreign military sales programme similar to the US, which would make it easier for other countries to buy weapons from EU arms companies.

Another proposal would allow the EU to force European arms companies to prioritise European orders during the crisis. To become a reality, the proposals would need the approval of the 27 EU countries and the European Parliament.

The proposals will be closely studied by NATO, which said it welcomed EU efforts to support European defence, but warned they must not overlap or conflict with the work of the transatlantic alliance.

Hoai Phuong (according to Reuters)

Source: https://www.congluan.vn/lien-minh-chau-au-de-xuat-chuyen-nganh-cong-nghiep-vu-khi-sang-kinh-te-thoi-chien-post286772.html