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“The European Aeronautic Defence and Space Company (EADS) is to cut 5,800 jobs in Europe between now and 2016.” Süddeutsche Zeitung reports that the decision, which will involve the loss of 4,500 permanent and 1,300 temporary jobs in Germany, France, Spain and the UK, has been taken in response to a crisis in the arms industry.
The daily adds that —
Europe is expensive. Because [...] in the arms industry, there is no unified Europe. In the arms sector, national borders are treated like fortresses. Even EADS, a European industrial group comprising of German, French, and Spanish firms, has been unable to change the fact that there is still one sector in Europe where the spirit of the 19th Century prevails. The British and the French think that it goes without saying that they should each have their own arms industry. And that has consequences. Every year, European taxpayers are required to pay out €26bn more than is necessary for the tanks and planes for their armed forces.
A conversation with investigative reporters Stefano Valentino and Giorgio Michalopoulos, who have dissected the dark underbelly of green finance for Voxeurop and won several awards for their work.
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