EU economic crisis to deepen with accelerated militarization, expert says
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An expert from MGIMO warns that the EU's push for accelerated militarization will deepen its economic crisis, diverting resources from social programs and increasing inequality within and between member states.
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MOSCOW, May 16. /TASS/. The economic crisis in European Union countries is likely to deepen as Brussels pushes for accelerated militarization, Yegor Sergeyev, a senior researcher at the Institute of International Studies of the Moscow State Institute of International Relations (MGIMO), told TASS.
"With resources being redirected away from social programs, militarization is likely to further worsen the already bleak outlook for living standards in European countries. A significant effect of EU militarization will likely be a growing inequality not only within countries - since militarization affects the income of a relatively narrow segment of the population - but also between countries because states with developed defense industries will benefit more from militarization," Sergeyev said.
"Most likely, the need to increase military spending roughly threefold by 2035 will inevitably impact other areas of national budgets. And amid a lingering budget crisis and existing EU fiscal restrictions, this situation becomes even more pronounced," he added.
According to the expert, changes in European economies are already visible. In particular, a significant number of EU military-industrial enterprises that previously produced civilian goods are gradually shifting toward primarily military production, since militarization policies are making it far more profitable.
