{"id":14017,"date":"2025-03-19T10:27:42","date_gmt":"2025-03-19T10:27:42","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/can-europes-new-military-spending-help-its-economies\/"},"modified":"2025-03-19T10:27:42","modified_gmt":"2025-03-19T10:27:42","slug":"can-europes-new-military-spending-help-its-economies","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/can-europes-new-military-spending-help-its-economies\/","title":{"rendered":"Can Europe\u2019s New Military Spending Help Its Economies?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">From Brussels to Berlin, leaders across Europe are getting ready to spend hundreds of billions to rebuild their armies. The spending, they say, is necessary to prepare Europe for the dangers of a world where the United States no longer guarantees its security.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But many of them are also hoping that the surge of money will have another important effect: revitalizing the continent\u2019s slumping industrial sector and opening a new front for economic growth.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">That <a class=\"css-yywogo\" href=\"https:\/\/www.consilium.europa.eu\/en\/press\/press-releases\/2025\/03\/14\/invitation-letter-by-president-antonio-costa-to-the-members-of-the-european-council\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">connection between defense investment<\/a> and competitiveness is one of the topics European leaders are likely to discuss when they meet in Brussels on Thursday, after the European Commission publishes a long-awaited paper on the future of European defense on Wednesday.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cEconomic strength and Europe\u2019s plan to rearm are two sides of the same coin,\u201d Ursula von der Leyen, president of the European Commission, said in <a class=\"css-yywogo\" href=\"https:\/\/enlargement.ec.europa.eu\/news\/press-remarks-president-von-der-leyen-first-100-days-2024-2029-commission-2025-03-10_en\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">a recent speech<\/a>, calling the potential investments a \u201cpowerful tailwind for important industries.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But whether that will be the case is far from certain, and the challenges to Europe actually making it happen are enormous.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">While there is a growing consensus that new military spending is likely to offer some boost to European economies in the near term, just how much will depend on how well that money is spent and where.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Most European economies have relatively modest defense industries, though France and Germany in particular are seeking to grow theirs. For decades, Europe has depended significantly on imports of American arms and equipment, particularly when it comes to the most sophisticated weapons. That makes the continent not particularly well suited to absorb new military spending immediately.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But European leaders are keen to change that, in order to keep tighter control over their own security, and to best reap the economic impact from that investment.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">President Emmanuel Macron of France is pushing allies, including Germany, to buy French missile-defense systems instead of American ones. <a class=\"css-yywogo\" href=\"https:\/\/www.reuters.com\/world\/europe\/portugal-wary-trumps-nato-policy-pick-fighter-jets-2025-03-14\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">Portugal\u2019s defense minister said<\/a> last week that the country might replace aging fighter jets with European ones, not American-made F-35s, citing concerns over the Trump administration\u2019s embrace of Russia.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But building out Europe\u2019s modest military industries will take time.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Friedrich Merz, Germany\u2019s likely incoming chancellor, laid out the challenges to lawmakers on Tuesday, before Germany\u2019s lower house of parliament <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/18\/world\/europe\/germany-debt-brake.html?searchResultPosition=6\" title=\"\">voted to loosen constitutional limits<\/a> on debt to allow more billions more in spending to revamp the country\u2019s military. The measures must now must pass the upper chamber and survive legal challenges before becoming law.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cNow we need to rebuild defense capabilities, in part from scratch, with a technology-driven defense and procurement strategy, with automated systems, with independent European satellite surveillance, with armed drones and with many modern defense systems and, above all, with reliable and predictable orders that should go to European manufacturers whenever possible,\u201d Mr. Merz said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">European nations <a class=\"css-yywogo\" href=\"https:\/\/www.consilium.europa.eu\/en\/policies\/defence-numbers\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">have increased spending on defense<\/a> by nearly a third since 2021. But even combined, their annual military budgets remain less than half of the United States\u2019. Defense industries employed just under 600,000 Europeans last year. By comparison, <a class=\"css-yywogo\" href=\"https:\/\/www.eurofound.europa.eu\/en\/resources\/article\/2025\/employment-eus-automotive-sector#:~:text=The%20latest%20EU%20Labour%20Force,sales%20and%20repairs%20(G45).\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">automobile manufacturers alone employed more than 3 million<\/a>.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In some cases, like tanks and missile batteries, Europe will need to scale up existing industries or repurpose other industrial production lines. In others \u2014 including drone technology and some of the most cutting-edge weapons and military support equipment \u2014 Europe will need to quickly build its own rivals to compete with American players. Defense officials caution it could take years to pull that off, if not a decade.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">And there is a risk that when European nations buy close to home, they will want to buy domestically rather than from Germany or France \u2014 duplicating efforts across the bloc. Europe already has some redundancy problems in defense. Ukraine, for example, has been <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/02\/03\/world\/europe\/europe-trump-defense-budgets.html\" title=\"\">sent at least<\/a> 17 different kinds of howitzers, not all of which use the same type of shell.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">If Europe\u2019s new spending ends up being duplicative, both the economic and strategic benefits could be muted.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">That is why some economists caution that the economic lift, while likely, might not be enough to buffer European governments against the populist backlash they have faced in recent years.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But if the E.U. can add new industries with coordinated investment and purchasing, then the growth effects could be significant.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">They might even be enough to help aging European countries temper a downward spiral of shrinking workforces and plunging investment, spurring new technologies that would spill over into civilian sectors and providing a more lasting benefit.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-5\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Much depends on how the new spending plans play out.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The philosophy, at the moment, appears to start with spending big \u2014 and staying close to home. In Brussels, European Union officials have made clear that they want to build up defense production abilities across their 27-member block. To catalyze investment, they have pitched a 150 billion euro loan program.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">They have also proposed loosening European fiscal rules so that individual nations will be able to spend more, which they estimate could unleash as much at 650 billion euros, more than $710 billion, in additional spending. Whether that much spending actually happens will hinge on whether national governments are willing to take on more debt for military spending.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Even with the challenges of buying local, many economists think that European growth as a whole will see some benefit from the defense buildup. Goldman Sachs estimated a modest bump in the eurozone in each of the next three years, with the largest benefit in 2027.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Goldman economists upgraded their growth estimates in part because of the German plan to ease debt limits. But others tempered expectations. <\/p>\n<p class=\"css-at9mc1 evys1bk0\">The German military spending plan \u201cis really about security,\u201d said Clemens Fuest, an economist who is the president of the ifo Institute in Munich, and who helped advise Mr. Merz.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-6\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cIt\u2019s good for the country because we want to avoid war in Europe,\u201d Mr. Fuest said in an interview. But, he added, \u201cIt\u2019s not good in terms of, \u2018It\u2019s going to create more growth,\u2019 or anything.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Still, at a time when German automakers and their suppliers have shed some 46,000 jobs since 2019, some Germans wonder if it may be time to turn idled automotive factories into cutting-edge plants for tanks or drones.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The German arms maker Rheinmetall has already taken a lead role in scaling up the country\u2019s weapons-production capacities. It has provided new jobs to dozens of workers from one of Germany\u2019s struggling auto suppliers, Continental AG. It has also been in talks with Volkswagen about the possibility of taking over an underperforming factory near Osnabr\u00fcck.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIf German taxpayer money is being spent, then we need to create German jobs,\u201d Armin Papperger, Rheinmetall\u2019s chief executive, told reporters last week, adding that he expected Rheinmetall alone to add 10,000 jobs in Germany over the next two years.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-7\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">That growth may be felt beyond Germany, too. Since the outbreak of the war in Ukraine, Rheinmetall has built new factories in Spain, Lithuania and Romania, growing into the one of the largest munitions producers in the West.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Every new factory creates 500 to 1,000 new jobs directly, and several thousand more in the surrounding area, Mr. Papperger said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">And even though France has limited room to borrow to scale up its own spending, it, too, could benefit from higher military outlays in the rest of the region, Goldman Sachs economists say. It hosts the largest military in the E.U. and is a major arms exporter.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Vicky Redwood, an economic adviser at Capital Economics, wrote in <a class=\"css-yywogo\" href=\"https:\/\/www.capitaleconomics.com\/publications\/global-economics-focus\/will-defence-spending-turbocharge-economic-growth\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">a March 13 analysis<\/a> that in general, increasing military spending by 1 percent of G.D.P. would lift growth by around 0.5 percent. Outside of Germany, she wrote, a \u201creasonable\u201d estimate is that European nations will raise their military spending by between 0.5 and 1.5 percent as a share of output.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But several factors could affect how much military expenditure boosts growth, she wrote. Those include how much of the spending goes toward research and development and how efficiently the spending is done. Nothing is certain.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-8\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Apart from Reinmetall, \u201cthe others are rather smaller players,\u201d said Marcel Fratzscher, president of the German Institute for Economic Research. \u201cI have doubts that this will be the future of Germany\u2019s comparative advantage, changing from building cars to building tanks.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/03\/19\/world\/europe\/can-europes-new-military-spending-help-its-economies.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Brussels to Berlin, leaders across Europe are getting ready to spend hundreds of billions to rebuild their armies. The<\/p>\n","protected":false},"author":1,"featured_media":14018,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[408,576,151,569,335,763,469,4451,4450],"class_list":["post-14017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-arms-trade","tag-defense-and-military-forces","tag-europe","tag-european-union","tag-factories-and-manufacturing","tag-germany","tag-politics-and-government","tag-rheinmetall-ag","tag-stimulus-economic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Can Europe\u2019s New Military Spending Help Its Economies? - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/can-europes-new-military-spending-help-its-economies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can Europe\u2019s New Military Spending Help Its Economies? - World News\" \/>\n<meta property=\"og:description\" content=\"From Brussels to Berlin, leaders across Europe are getting ready to spend hundreds of billions to rebuild their armies. 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