Geopoliticalmonitor
FORECAST
Western Military Power to Wane
The sovereign debt crisis in Europe, and soon America, will exert
tremendous pressure on national defense budgets, resulting in a
re-alignment of global military power from West to East.
David Camerons warnings of tough and painful spending
cuts ahead of an emergency budget in the UK have become somewhat of a
common refrain in Europe of late. As national governments scramble to
rein in spending and ward off speculative bond vigilantes from driving
up bond prices, defense spending has emerged as a natural target for
austerity cuts.
The British government is currently conducting a strategic defense
review that will decide the fate of several wasteful procurement
programs in the British defense establishment. All told, 14 programs
at the British Ministry of Defense have been allowed to run over
budget, costing the government an additional £4.5 billion. In the case
of the UK, its not a question of whether there will be cuts, but
rather when they’ll come and what theyll target.
For article's full text, please visit: www.geopoliticalmonitor.com
Posts
