France and Italy to Cut Defence Budgets

French media reports that a three-year cut of perhaps $5 billion is under consideration for the defence budget. That is on top of the long-anticipated progamme review. The French Defence Ministry is preparing for a reduction of 2 billion euros to 3 billion euros in the best case and 4.8 billion euros in the worst over the next three years. The actual figures will only be known in mid-June, when the prime minister’s office sends out budget letters that set spending caps for each govern...
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