Kauppalehti article on the EU Proposals Earmarking €1.5 billion for the Defence Industry
This Kauppalehti article by Sarah Koho outlines the EU Commission proposals to support the competitiveness and readiness of the defence industry – noting that the proposals include a review of the European Investment Bank’s lending policy this year.
The article quotes EU Competition Commissioner Margrethe Vestager: “Our defence spending goes to too many different weapons systems, which are mainly purchased from outside the EU”.
ASD Secretary General, Jan Pie is quoted: “We fully support the Commission’s objective to enhance Europe’s defence readiness and welcome the emphasis that the strategy puts on Europe’s defence industry for this readiness… Since time is of essence, we hope in particular that the forthcoming European elections will not significantly slow down the legislative procedure for EDIP.”
Access to finance
Access to reliable and affordable financial services is crucial for maintaining a robust and competitive European industrial and technological base. Without adequate financing, the industry cannot invest in the development of new technologies and products, nor in the modernisation of its infrastructure and workforce.
An increasing number of aerospace and defence-related companies across Europe, particularly SMEs, have struggled in recent years to access basic services like bank accounts or insurance.
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