This shows a concerning level of ignorance of what "debt" actually is, and what wealth means.
well, enlighten us.
Redditors are legit retarded.
Sure, europe will spend 700B$ on their military. I will believe it when I see it.
Fat chance.
European countries gvt budget is around 50% GDP. in reality is more and central states mediate 100% of the economy, in a way or another. and GDP numbers are always skewed by public expenditure.
the govt budget is usually tied into 4 big items: public workers, healthcare, pensions, interest on debt.
These items are basically untouchable and only a few % are left for everything else including defence spending.
on top of that they are all running deficits (they spend more than they receive) and there are restrictions on deficit in the EU and euro area, even tho
Dracula is talking about slackening the restrictions in order to "invest" in defence but i dont see that happening.
add to that the C19 stimuli galore and the continent level house arrest for months, which caused massive drops in production and massive expenditures.
bottom line is, europe is broke and its economy is going down the drain FAST. politically, the elites are keeping the status quo by the skin of its teeth but large political storms are coming.
talk is cheap. when it will be the time to walk the walk, everything will evaporate because there is nothing behind the talk.
The head of the Swiss Army today said Switzerland will be able to send 200 soldiers to an eventual peace mission in Ukraine, in a year time. i dont know if it was trolling or serious talk.
And this is a country with a more or less healthy economy and military.