21/05/2013 |

Guns, Debt and Corruption: Military Spending and the EU

May 21, 2013 by IPB

Report by Frank Slijper of the Campaign Against Arms Trade (Campagne tegen Wapenhandel)

“Five years into the financial and economic crisis in Europe, and there is still an elephant in Brussels that few are talking about. The elephant is the role of military spending in causing and perpetuating the economic crisis. As social infrastructure is being slashed, spending on weapon systems is hardly being reduced. While pensions and wages have been cut, the arms industry continues to profit from new orders as well as outstanding debts. The shocking fact at a time of austerity is that EU military expenditure totalled €194 billion in 2010, equivalent to the annual deficits of Greece, Italy and Spain combined.”

To read the full report, click here.

Also see the excellent infographic!