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The global financial crisis has done nothing to curb arms sales (Photo: Wikipedia)

EU arms trade booming despite crisis

by Nikolaj Nielsen, Brussels,

Firms in the UK, France, Italy, Sweden, Germany, Spain and Europe's own European Aeronautic Defence and Space Company made around €75 billion from selling weapons in 2010.

In broader terms, the world arms trade is booming and has increased turnover by 147 percent since 2002, with companies based in western Europe and North America leading the sector.

In 2010 - two years after the eruption of the global financial crisis - some €305.6 billion of arms and weapons were sold on interna...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

The global financial crisis has done nothing to curb arms sales (Photo: Wikipedia)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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