Western Europe: An Arsenal of Its Own

Since World War II, Western Europe has been generally content to regard the U.S. as "the arsenal of defense," concentrating on its own efforts on producing the stream of consumer goods that brought about its unparalleled postwar prosperity. Now, for reasons of pride, politics and profit, the Continent is gradually developing its own defense industry. Though modest compared with the huge $53.7 billion U.S. defense budget, the European arms industry is already big enough to be taken seriously, particularly at a moment when Europe is feeling the slows in other economic areas.

Billions for Defense. The four major NATO nations in...

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