European companies must increase ammunition production to deal with the “realities of conflict” in Ukraine. Thierry Breton, European Commissioner for the Internal Market, spoke about it in an interview with the Financial Times.
According to him, to do this, it is necessary to restructure the structure of the economy. “I believe that the time has come for the transition of the European defense industry to a model of war economy. This will allow us to meet our defense production needs,” Breton said.
We also learned that Breton was pressuring financial institutions. Some of them had previously refused to lend to arms companies.
Copyright © 2023 The Eastern Herald.
For the latest updates and news follow The Eastern Herald on Google News, Instagram, Facebook, and Twitter.
Help us continue our mission to deliver the latest news and stories by becoming a supporter of our newspaper. Your support will help us to continue to provide high-quality journalism and to ensure that our content remains free and accessible to all. Click here to show your support. Thank you!