Business Standard

Russia-Ukraine war is reshaping how Europe spends

The result is a sudden reshuffling of budgets as military spending, essentials like agriculture and energy, and humanitarian assistance are shoved to the front of the line.

German Chancellor Olaf Scholz promised to inject $113 billion  into the country’s armed forces
Premium

German Chancellor Olaf Scholz promised to inject $113 billion into the country’s armed forces

Patricia Cohen | NYT
Nicolae Ciuca spent a lifetime on the battlefield before being voted in as prime minister of Romania four months ago. Yet even he did not imagine the need to spend millions of dollars for emergency production of iodine pills to help block radiation poisoning in case of a nuclear blast, or to raise military spending by 25 percent in a single year. 

“We never thought we’d need to go back to the Cold War and consider potassium iodine again,” Ciuca, a retired general, said at Victoria Palace, the government’s headquarters in Bucharest. “We never expected this kind of war in the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 29 2022 | 11:45 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com