Europe is intensifying its efforts towards reindustrialization, bolstering defense capabilities, and strengthening its strategic global position, a complex undertaking recently highlighted by geopolitical strategist Velina Tchakarova. In a recent social media post, Tchakarova posed a critical question to her audience: > "What would you add or do to accelerate Europe‘s reindustrialization, boost its defence budget and position the continent strategically?" Her query underscores the interconnected challenges and ambitions facing the continent.
The European Union has been actively pursuing reindustrialization, driven by a desire to enhance supply chain resilience, mitigate geopolitical risks, and achieve climate goals. Initiatives like the Net-Zero Industry Act and the focus on reshoring critical manufacturing aim to reverse decades of deindustrialization. This push seeks to revitalize European industry, particularly in green technologies and advanced manufacturing, ensuring greater self-sufficiency and competitiveness in key sectors.
Simultaneously, European defense spending has seen an unprecedented surge, reaching a collective €279 billion in 2023 among EU Member States, a 10% increase from the previous year and the ninth consecutive year of growth. This significant rise, largely propelled by Russia's full-scale invasion of Ukraine, reflects a renewed commitment to security. Forecasts indicate procurement spending could exceed €90 billion in 2024, with proposals like the European Defence Industrial Programme (EDIP) aiming for substantial long-term investments.
The twin objectives of reindustrialization and increased defense spending are integral to Europe's broader pursuit of "strategic autonomy." This concept, which has evolved beyond military capabilities to encompass economic, technological, and energy independence, aims to enable the EU to act more independently on the global stage. Experts emphasize that achieving strategic autonomy is crucial for Europe to navigate a multipolar world and protect its interests without excessive reliance on external powers.
Velina Tchakarova, a recognized geopolitical strategist with over two decades of experience in security and defense, consistently analyzes global trends and risks. Her public commentary often focuses on the intricate interplay of geopolitical and geoeconomic factors shaping Europe's future. Her tweet serves as a concise reflection of the ongoing high-level discussions and policy shifts aimed at fortifying Europe's economic and security foundations for the coming decades.