Germany will invest 2% of GDP in Defense

German Chancellor Olaf Scholz announced this Sunday that Germany will allocate 100,000 million euros from the state budget to modernize and strengthen its Armed Forces and will raise the Defense spending to more than 2% of the Gross Domestic Product (GDP)taking a historic turn to respond to the Russian invasion of Ukraine.

Scholz, who has criticized Russian President Vladimir Putin for starting a “inhuman” war against Ukraine, has stressed that Germany must invest more in their security to protect freedom and democracy.

Germany has also joined other countries in closing its airspace to Russian planes and expelling some Russian banks from the SWIFT international interbank communications system.

An investment “for our own safety”

In a speech before the German lower house, the Bundestag, Scholz underlined the need for Armed Forces “efficient, state-of-the-art and advanced” to protect the country from the threat posed by Russia. “Better equipment, modern equipment, more people… that costs a lot of money”has added.

In this sense, the chancellor has announced that “from now on, every year, we will invest more than 2% of our GDP in our defense“, a measure that has ensured that it is taken not only because of Germany’s commitment to NATO, but “for our own safety“.

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Scholz has stressed that before the “change of era” that supposes the aggression of the Russian presidentGermany will be supportive in your contribution and “whatever it takes will be done to guarantee peace in Europe”.

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The chancellor has also informed the German parliamentarians that his government will build two new liquefied gas terminals in response to the conflict in Eastern Europe and in view of the gas supply in Germany being affected.

Other sanctions against Russia

Germany, as well as other European countries and the United Stateshave come together to carry out different sanctions against Moscow in response to the Russian invasion of Ukraine.

Several countries in Europe have decided to close their airspace to Russian airlines, including Germany, France, Italy, Spain, Norway, Finland, as well as the United Kingdom, Slovenia, Bulgaria and the Czech Republic, among others. The German Transport Minister, Volker Wissing, announced this Sunday that the closure of its airspace will last three months.

Likewise, the United States and the European Union, along with other Western partners, have come together to expel some Russian banks from the interbank communications system SWIFT, which will ensure that “certain” banks “are disconnected from the international financial system and impair your ability to operate globally“, as reported by the leaders of the European Commission, France, Germany, the United Kingdom, Italy, the United States and Canada in a joint statement.

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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