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  - WN.COM - Business - 13/Jul 08:09

European defence spending and its economic effects

By Nektarios Michail The recent geopolitical tensions that keep erupting around the world have underlined the fact that Europe and the US may likely be unprepared, and are definitely underperforming, in terms of weapons production. In a recent speech, NATO secretary Mark Rutte noted that “in terms of ammunition, Russia produces in three months what NATO produces in a whole year.” While many countries have, by now, increased demand for various types of ammunitions, Europe lacks both the factories as well as the raw materials that are required to produce them. In a clear example of this situation, factories that produce basic chemical explosives are now scarce in Europe, with most having shut...

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