EU aims to shift European arms industry to ‘war economy mode’

March 05, 2024

BRUSSELS -- The European Commission will propose on Tuesday ways for the European Union to boost its arms industry so it can shift to "war economy mode" in response to Russia’s attack on Ukraine. Thierry Breton, the European industry commissioner, will lay out proposals to encourage EU countries to buy more weapons together from European companies, and to help such firms increase production capacity, according to EU officials. This also means that the European defense industry must take more risks, with our support," said Breton, previewing the package. But EU officials argue purely national efforts are less efficient and want EU bodies to play a greater role in defense industrial policy. "If the question is that of a Defense Industry Commissioner, it seems to me that we already have one,” he said.

The source of this news is from Tuoi Tre News