"European Council Urges Shift to War Economy Amid Unresolved EU Defence Funding Issue"

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Source: Mish Talk
"European Council Urges Shift to War Economy Amid Unresolved EU Defence Funding Issue"
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TL;DR Summary

European Council President Charles Michel is advocating for a shift to a war economy in Europe, proposing targets for increased weapons purchases from European defense producers, using profits from Russian frozen assets to finance weapons for Ukraine, and facilitating financial access for the European defense industry. However, this approach raises concerns about the potential dependence on conflicts to sustain the defense industry and the broader implications for the EU's economic integration and stimulus. Additionally, solidarity with Ukraine is facing challenges, as evidenced by tensions over Ukrainian grain imports and declining political support for Ukraine aid in Western countries.

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