Germany’s Emerging War Economy
Reversing its decades-long aversion to rearmament, Germany has pledged to increase military spending and accepted a leadership role in Europe's longstanding quest for strategic autonomy. But to meet the challenges of an age in which the threat of war is always present, Germany and Europe must invest heavily in military innovation.
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MUNICH – On February 27, three days after Russia invaded Ukraine, German Chancellor Olaf Scholz stood before a special session of the Bundestag and declared the invasion a “turning point” (Zeitenwende) in German history. In his speech, Scholz also pledged to increase defense spending by €100 billion ($98.5 billion), reversing Germany’s decades-long aversion to rearmament.