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Article: Preparing for downturn EC funds defense conversion programs; Europe's woes could be gain for U.S. (European Commission)
- Article from:
- Defense Daily
- Article date:
- September 16, 1991
CopyrightCOPYRIGHT 1991 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(Paris) The European Commission said last week that it will be financing $25 million worth of programs that will ease the conversion of Europe's armaments industry as several community countries face a downturn in defense spending.
Funds for the conversion effort will come out of a special $47 million line of credit that was set aside by the European Parliament earlier this year to assist countries hit hardest by the reduction in military funding.
Europe's Woes Could Be Gain For U.S.
Meanwhile, an official of the Washington-based Aerospace Industries Association (AIA) said last week that the downturn in defense ...