Financing the European defence industry

European Parliament - EPRS Policy podcasts

European Parliament Webmaster

Government & Organizations, Non-profit

4.8 • 13 Ratings

🗓️ 13 September 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Although the European defence industry is generally competitive, more than a decade of underinvestment has kept it from reaching its full potential. The significant under-investment in European defence is demonstrated by the severe difficulties the European defence technological and industrial base (EDTIB) has in obtaining finance. Member States' defence budgets will continue to be the EDTIB's main source of funding; however, more collaborative actions and spending would enhance output and efficiency.

- Original publication on the EP Think Tank website
- Subscription to our RSS feed in case your have your own RSS reader
- Podcast available on Deezer, iTunes, TuneIn, Stitcher, YouTube

Source: © European Union - EP

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the European Parliamentary Research Service podcasts.
0:06.0	Over the last decade, new global security challenges combined with shifting alliances and geopolitical challenges, pushed Europe to take security into its own hands.
0:16.0	But after decades of chronic underinvestment in defence, how is Europe going to fund its new defence
0:21.7	ambitions? Stay with us.
0:23.6	From a side issue to one of the EU's top priorities in the years to come.
0:30.6	This is how much the EU's view on security and defence has changed over the past years.
0:36.6	A mind shift that resulted in the block-boosting investment in defence defense has changed over the past years.
0:38.3	A mind shift that resulted in the block-boosting investment in defense research and development
0:43.3	and finding new ways to coordinate military production and reduce third-country dependencies.
0:49.3	Former US President Donald Trump's repeated criticisms of free-riding European states that did not spend enough on defence was a wake-up call.
0:58.0	But it was Russia's full-scale invasion of Ukraine and its implications on future peace in the continent that added real urgency to the need to boost the EU's defence efforts and capabilities.
1:09.0	But that's easier said than done. After years of under-investment, when it was assumed that war was a thing of the past or that
1:15.6	Uncle Sam would always come to the EU's rescue, the EU's defence industry has not reached its full potential and is still highly fragmented.
1:24.6	So when the first real test came in February 2022, Europeans eager to provide military assistance
1:31.1	to Ukraine were confronted with exhausted supplies of ammunition and equipment as well as lengthy
1:36.4	production times.
1:37.8	And the problem is not only a practical one.
1:40.6	EU countries have been reluctant to cooperate on matters of national security, such as defence.
1:46.0	The EU budget cannot be used to fund operations with military purposes,
1:50.0	but member states can if they agree to do so.
1:54.0	To be able to deliver weapons to Ukraine, an off-budget fund named the European Peace Facility was set up. Here's Mariana Paddy from the European Parliamentary Research Service.
2:04.6	The EU budget supports Ukraine.
	...

Transcript will be available on the free plan in -201 days. Upgrade to see the full transcript now.

Next episode

Disclaimer: The podcast and artwork embedded on this page are from European Parliament Webmaster, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of European Parliament Webmaster and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.