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Defense Spending for Europe’s Security – How Much Is Enough?

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  • Florian Dorn

Abstract

Key MessagesDefense spending above the NATO target of 2% of GDP would be necessary for Europe to be able to provide sufficient security and to defend itself without the protective umbrella of the US.European countries must increase their efforts to catch up with an adequate defense capability, as defense budgets andmilitary investments have been too low for years.Many European countries must compensate for higher real military costs – including wages for soldiers and costs formilitary equipment – than, for example, in Russia or China.More efficient and integrated military structures need to be established in Europe in the long term. The currentgeopolitical situation immediately requires higher defense spending.European governments need a credible plan to sustainably increase defense capabilities without jeopardizing budgetarystability and economic competitiveness.

Suggested Citation

  • Florian Dorn, 2024. "Defense Spending for Europe’s Security – How Much Is Enough?," EconPol Policy Brief 66, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    • Handle: RePEc:ces:econpb:_66
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    File URL: https://www.ifo.de/DocDL/EconPolPolicyBrief_66_Defense_Spending_Europe_Security.pdf
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    References listed on IDEAS

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    1. repec:bre:polbrf:node_10289 is not listed on IDEAS
    2. Mikkel Vedby Rasmussen, 2024. "Rearmament with a Purpose," EconPol Forum, CESifo, vol. 25(04), pages 24-27, July.
    3. Marcel Schlepper, 2024. "Verteidigungspolitische Herausforderungen für die Europäische Union," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 77(05), pages 39-43, May.
    4. Peter E. Robertson, 2022. "The Real Military Balance: International Comparisons of Defense Spending," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(3), pages 797-818, September.
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