Conclusion

摘要

The dawn of a new decade has been unkind to European defense, with economic recovery sluggish and a sovereign debt crisis threatening to spread across the continent. The impact of bank bailouts and stimulus spending on budgetary imbalances and public debt has been substantial. Low growth nations such as Portugal and Italy worry about long-term economic competitiveness, while Britain, France, Ireland, and Spain must close yawning budgetary imbalances. An inability to meet its debt obligations forced Greece to take its medicine from the IMF and EU in return for an EUR110 billion bailout that saved the country, at least temporarily, from bankruptcy.