Of all plans to achieve more European defence cooperation recently presented by European Commission, plans to finance the arms industry are the most concrete and are implemented fast. The policy is developed in close cooperation with the arms industry.
Plans to open the EIB to military production are a step back for ethical banking. That military production is stimulating employment and technical development is refuted in various investigations. Disarmament and conflict prevention are better ways to improve the safety of European citizens.
The weakening of arms export control is adding to this worrying development. The risk that arms exports induce for peace, security and human rights is apparently considered of less importance than an efficient European arms market and the global competitiveness of the European arms industry.
Download factsheet European money for the arms industry