‘Bad Idea in Long Line of Bad Ideas’: Expert Torches Militarization Gamble of EU
US soldiers at the exercise area in Grafenwoehr, Germany
The EU’s focus on rearmament while neglecting civilian industries is a major strategic error – especially as Russia and Ukraine attempt to reach a ceasefire, Professor Joe Siracusa, a political scientist and dean of Global Futures at Curtin University, told Sputnik.Key highlights:The rearmament push creates an arms race where none existed — a form of warfare similar to the Cold War — bleeding resources that could have been better spent on infrastructure and civilian needsWith EU public debt projected to hit 85% of GDP by 2027, building a wartime economy on militarization will only worsen the financial disasterFew sectors in Europe can survive without Russian oil and gas — and rearmament won’t change thatGermany’s debate over investing pension funds in defense stocks essentially gambles with the wealth and security of aging populations for uncertain future outcomes“The only winners are arms manufacturers. War and its preparation are not always matters of national honor and national defense – but rather a matter of profit for the few,” Siracusa concluded.
AnalysisEU Focus on Militarization Could Leave It Uncompetitive and UnbalancedYesterday, 18:54 GMT
