Monday May 25, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Global military spending fell in 2012 for first time in more than a decade

Global military spending dropped in 2012 for the first time in more than a decade thanks to deep cuts in the United States and Europe which made up for increases in countries such as China and Russia, a leading think-tank said on Monday.

Big powers the United States and its European allies face tight budgets in an economic downturn and have scaled back involvement in conflicts in Iraq and Afghanistan. The world's second biggest economy China, however, is ramping up spending and registered 7.8 percent growth in 2012 from the year before, up 175 percent from 2003.

Military expenditure as a whole fell 0.5 percent to $1.75 trillion last year in the first decline in real terms since 1998, the Stockholm International Peace Research Institute (SIPRI), which carries out research on international security, armaments and disarmament, said in a statement.

"We are seeing what may be the beginning of a shift in the balance of world military spending from the rich Western countries to emerging regions,» said Sam Perlo-Freeman, director of SIPRI's Military Expenditure and Arms Production Programme.

Military expenditure in the United States, the world's biggest spender by far with a budget about five times that of China, fell 6 percent and stood below 40 percent of the global total for the first time since the collapse of the Soviet Union more than 20 years ago, SIPRI said.

The United States pulled its troops out of Iraq more than a year ago and is winding down its war in Afghanistan under a plan for a pull-out by the end of 2014.

The Pentagon is seeking to cut hundreds of billions of dollars in costs and this month, new Defence Secretary Chuck Hagel warned the U.S. military to brace for a new round of belt-tightening.

In Europe, austerity measures prompted by the financial crisis that started in 2008 have forced NATO members to cut back spending by 10 percent in real terms.

"All the indications are that world military spending is likely to keep falling for the next two to three years — at least until NATO completes its withdrawal from Afghanistan at the end of 2014,» Perlo-Freeman said.

"However, spending in emerging regions will probably go on rising, so the world total will probably bottom out after that."

Global military spending fell significantly after the Cold War ended, reaching a nadir in the mid-1990s, but picked up pace sharply after the September 11 attacks on the United States.

The global total remains above the Cold War peak.

Greece’s arms imports fell by 61 percent between 2003–2007 and 2008–12. The country fell from the number four importer to number 15.

During the period from 2006 to 2010, Greece was the top recipient of German arms exports and the third largest recipient of French arms exports.

[Reuters & Kathimerini English Edition]

ekathimerini.com , Monday April 15, 2013 (11:36)  
Varoufakis slams media over Riga Eurogroup reporting
Greeks back government´s red lines, but want to keep euro
SYRIZA seeks new relationship with police
Solving islands´ water problems would take 66.4 mln euros, study finds
ANALYSIS
VAT adjustment is the way forward
The Greek government’s hope for a political solution and a staff-level agreement on the program review by the end of May is looking increasingly unlikely. To the extent that a piecemeal appr...
Tender for Thriasio freight center to restart next month
The tender process for the Thriasio freight center is about to restart, with candidate investors set to receive the terms so that there may be tangible progress by end-June. If everything go...
Inside Business
SOCCER
Berg brace gives Panathinaikos four-point lead
Panathinaikos beat Atromitos on Sunday and took advantage of the goalless draw between PAOK and Asteras Tripolis to open a four-point gap from PAOK at the top of the Super League play-off mi...
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
Inside Sports
COMMENTARY
The good news and the bad
The good news is that a Greek default will most likely be prevented, a deal will be reached with the country’s creditors and an extension will be granted for negotiations over the next bailo...
EDITORIAL
Geopolitical threats
Greece needs to extricate itself from this crisis fast and get back on its feet, not least because the geopolitical climate is becoming increasingly stormy. The Balkan region is re-entering ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Berg brace gives Panathinaikos four-point lead
2. VAT adjustment is the way forward
3. Tender for Thriasio freight center to restart next month
4. Varoufakis slams media over Riga Eurogroup reporting
5. Banks fear NPL sum will reach 100 bln euros
6. Socar has found a way to opt out of the DESFA deal
more news
Today
This Week
1. Greeks back government's red lines, but want to keep euro
2. Greece does not have the money to make June IMF repayment, warns interior minister
3. The good news and the bad
4. SYRIZA seeks new relationship with police
5. Solving islands' water problems would take 66.4 mln euros, study finds
6. Geopolitical threats
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.