Special Report: Worldwide Spending and Priorities -- Defense News
Europe’s Biggest Powers Balance Cuts, Capabilities
Defense spending by Europe’s four biggest military powers is set to steadily fall over the next few years as continuing financial strains force further austerity measures.
Britain, France, Germany and Italy have all been in retreat on defense spending for some time as the need to reduce budget deficits has taken priority. That situation is unlikely to ease soon, and the budget calculations being made around major Western European capitals will likely entail further hits to defense equipment.
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My Comment: The Euro debt crisis has eviscerated their budgets. One can only hope that a new national security crisis does not arise in the next few years.