Year: 2024
Type: article
Abstract: Ukraine is not the only part of Europe vulnerable to missiles and air attacks (Dausend et al., 2024).Existing capabilities, in particular NATO's integrated air and missile defence systems (NATO, 2023), are insufficient to comprehensively protect European territory.Experience in both Ukraine and Israel shows that effective missile defence is actually feasible.Yet, air defence systems such as the US-made Patriot or the German Iris-T are expensive -one reason why European governments have not invested sufficiently.EU debt outside of national fiscal rules would provide resources for the costly roll-out of the European public good air defence as a response to an imminent threat to European security.This act of mutual assistance would free national budgetary resources and provide long-term funding stability, thereby also helping to boost the domestic defence industry.1 We discuss how such EU debt could be justified in EU law and concretely implemented.
Source: Intereconomics
DOI: 10.2478/ie-2024-0040
Authors: Armin Steinbach, Guntram B. Wolff
Institutions: Bruegel, HEC Paris, University of Erfurt
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $2,690
OpenAlex ID: W4401620921