In the wake of the recent NATO summit in The Hague,
In the wake of the recent NATO summit in The Hague, where member states committed to increasing defense spending to 5% of GDP by 2035, the European Trade Union Confederation (ETUC) has issued an urgent appeal: don’t make working families foot the bill.
While not opposing the need to bolster defense, ETUC is calling on European governments to protect social spending from cuts. The confederation argues that any additional burden must be borne by those most able to afford it, emphasizing fairer tax distribution. As Brussels’ union leaders put it, Europe should not have to choose between social cohesion and military readiness.
Yet beneath the appeal lies a sobering reality: cohesion and development funds are already being funneled into defense budgets. Leading economists warn that this redirection will inevitably erode households’ living standards—concerns that data is beginning to confirm.
“Guns or Butter”?
Economist Gert Peersman of Ghent University recently underscored the stakes in an interview with Belgium’s public broadcaster, VRT News. His analysis estimates that the proposed 5% defense expenditure would amount to an additional 6,000 euros per household annually—comparable to what Belgian families currently spend on food.
For Peersman, the model is both unrealistic and unsustainable, given that
Content Original Link:
Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
" target="_blank">Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
