Summit: Europe is ready to merge the military-industrial complex, but not armies and banks

Summit: Europe is ready to merge the military-industrial complex, but not armies and banks

During the final summit the heads of the states of the EU discussed for the first time the issues of the joint defense policy and creation of the united bank system. ITAR TASS informs that Great Britain categorically opposed the initiative of creation of united armed forces of the EU, which was confirmed once more by British Prime Minister David Cameron. He stated that official London would block any initiative on this issue.

The leaders of the 28 states of the EU discussed the issues of defense for the first time since 2008. Before the main topics for discussion during the annual final meetings were the issues of economy, overcoming the crisis and preserving the Euro-zone.

“It is not favorable for the EU to have the common military force, army, air force and all the rest,” the Prime Minister of Britain informed upon arrival in Brussels. Great Britain heads the group of the sates of the EU, which traditionally supportы absolute leadership of NATO in the defense issues and sees no need in independent military policy of the EU. Traditionally the members of this group are Bulgaria, Hungary and Greece, but only Britain has the right to block the decisions.

At the same time the heads of the states agreed to form common European market of the defense goods and to adopt the activation plan of the development of the European defense industry, including the involvement of small and middle-sized enterprises with defense orders. For this purpose the system of licensing of various elements of defense systems needs to be created. The adopted document does not contain concrete numbers, volumes and terms.

The market of defense industry has always been the most segmented market of the countries of the EU. While placing an order, the government of the country still has the right to prefer the national manufacturer. According to the participants of the summit, this hampers competitiveness of the market.

The heads of the states discussed the creation of common European banking system one more time. Since 2007 there have been attempts to unite commercial banks in order to free the budgets of the states from the necessity to bear responsibility for the financial obligations in front of the depositors. Then the construction crisis caused credit crisis, which threatened to outgrow into the banking crisis. The issue of creation of interbank fund was postponed to 2014. And earlier it was postponed from 2010 to 2013.

Елизавета Будько


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