Subsidized Europe Cries in Despair

Subsidized Europe Cries in Despair

From the Financial Times, “The Costly End of the EU’s ‘Peace Dividend’”:Europe enjoyed its years of low military spending thanks to a prolonged period of protection from the US, allowing it to build one of the most generous social security systems in the world… Across the EU, social protection has grown as a share of total government spending, rising from 36.6 per cent in 1995 to 41.4 per cent on the eve of the pandemic… While higher borrowing c…