05 Feb '12, 11am

Europe faces more warnings abouts its shrinking defence budgets at #MSC2012

With little cash to spare for their armed forces, Europeans must deepen military cooperation after incessant US pressure urging old allies to start pulling their own weight. A parade of world defence leaders and experts meeting at the Munich Security Conference issued stark warnings about Europe 's place in the global arena if it fails to maintain its military might. With the debt crisis forcing governments to cut spending, Europeans were told they have little choice but to look to each other to ensure they have the aircraft, ships and weapons they need to stay relevant. "I m not concerned. I'm not pessimistic, on the contrary I see opportunities in this financial crisis to strengthen mechanisms that band allies together," said NATO Secretary General Anders Fogh Rasmussen. Europeans are slowly moving towards more cooperation. Rasmussen launched the "Smart Defence" initiati...

Full article: http://sg.finance.yahoo.com/news/cash-strapped-europe-str...

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