The Economic Crisis And Its Impact On Defense

890 words - 4 pages

THE ECONOMIC CRISIS AND ITS IMPACT ON EUROPEAN AND CYPRUS DEFENSE
By Dr Aristos Aristotelous

The relentless question of prioritizing and allocating scarce national resources to unlimited uses and requirements becomes even harder in times of economic crisis. In Cyprus - as in other EU countries - the tragic state of the economy and the need to exit from the crisis, brings unbearable pressure on military spending and is impacting on priorities in the defense field.
Europe
Under the burden of financial constraints and the need to protect or further enhance the welfare state, the defense sector in many European countries - especially after the end of the Cold War - was usually targeted ...view middle of the document...

U.K, Turkey and Greece
The United Kingdom, Turkey and Greece are the notable exception. In the U.K. defense spending between 2011 and 2012 increased from $ 63.5 bn to $ 64 bn, and in Turkey it increased from $ 14.4 bn to $ 16.9 bn, aiming at maintaining and enhancing the strength and credibility of their Armed Forces. Even, more remarkable is the fact that in Greece, despite its huge financial trouble and painful cuts, defense spending increased from $ 6.5 bn to $ 7.6 bn. Greece is probably aiming at conveying the message that the crisis does not weaken its determination to defend its national interests from external military threats. Also the three countries have the highest defense spending as a percentage on their Gross Domestic Product (Greece, 2.9 %, UK 2.6 %, Turkey 2.1 %) compared to the average of 1.5 % of the rest of the European countries.
Cyprus
In Cyprus, the extremely negative growth rates of the economy and the severe restrictions imposed by Troika on government spending inevitably exert enormous pressures for drastic reductions in the defense field. This is a particularly difficult decision for the political and military authorities when considering the strength of the Turkish troops in the occupied part of the island (CCSS, Annual Report, 2013). In 2013, the budgeted defense spending totaled to € 342.5 m.( $ 466.5 m.) , of which € 95 m.( $29.4 m.) was allocated for purchasing of arms, equipment and maintenance.
The impact of the economic crisis is also noticeable in the defense budgets for 2014, 2015 and 2016. During the current year defense expenditure is...

Other Essays Like The Economic Crisis and Its Impact on Defense

Essay on Liberalization and Its Impact on the Indian Economy

4626 words - 19 pages to be considered is the large number of people in the country living on the poverty line. To make any reform process socially acceptable a poverty alleviation programme must be in. In the context of resource constraints, a serious thinking has to be done as to the extent and pace of economic reforms. Conclusion: India has to go through a painful period of adjustment before the liberalization can have its fruitful impact upon the economy. In

Motivation And Its Impact On Performance Of The Employees

3113 words - 13 pages The research focuses on Motivation and Its Impact on Performance of the Employees. Motivation is derived from the concept of hedonism, which means that humans always search for joy and comfort and want to save themselves from tension and pain. (Kamal, Khan, Khan and Khan, 2006) Li quoted , Motivation is a general term applying to the entire class of drives, desires, needs, and wishes. It is essentially a process by which an individual

Biophilia and Its Impact on the Human Species

728 words - 3 pages Brandon Moore Biophilia and its impact on the Human Species November 7, 2014 Dr. Henry Zeidan Biology and Society BIO1050 Life on this planet is defined and shaped by a never ending cycle of relationships, and happenings. From live birth, to photosynthesis, to the purification of water, every single element or organism on this planet interacts and bonds with something else in order to produce another creation. As humans we are born with

The Impact of Globalization on Economic Decisions

542 words - 3 pages In 2012, McDonald’s Corp had a 4.5% decrease as economic troubles pressured margins and consumer confidence. Due to higher food, labor, occupancy and business investment costs, McDonald’s had negative profitability. In addition to the already difficult situation, consumer confidence was at an all time low, with consumers pressuring them to increase its marketing and promote value. “McDonald’s are experiencing headwinds on both the top and

Globalization and Its Impact on Humanity

2194 words - 9 pages Qadry: ID# 11499 Date: 12/3/2012 Zahra Aziz: ID# Course: English 115 Globalization and Its Impact on Culture, Economy, and Information Technology Introduction: The world is not constant forever. People reside in different parts of the world; adopt many changes into their life styles and social structure over time that causes the world to change. Almost all the people in this world are somehow engaged in a huge network invented by

Junk Food and Its Impact on Health

2602 words - 11 pages Junk Food and Its Impact on Health Pamela Gambrell DeVry University Junk Food and Its Impact on Health Michael was a man in his 30’s when I first met him. He had everything to live for: a beautiful wife and two gorgeous children. He was also morbidly obese and had a multitude of health problems. His biggest health problem? He had diabetes mellitus and was very noncompliant with his diet. He often came into the hospital with blood glucose

Economic and Social Challenges in the United Kingdom and Their Impact on Business

3729 words - 15 pages IBUS 750-Exploring Global Business May 31, 2014 Economic and Social Challenges in the United Kingdom and Their Impact on Business. The Great Recession was a crisis that affected economies worldwide. During this time, some countries only experienced small declines in Gross Domestic Product (GDP) and declines in international trade while others experienced more severe repercussions such as increased unemployment rates

Educational Policiy and Its Impact on Practices in the Learning and Skills Sector

3298 words - 14 pages EDUCATIONAL POLICIY AND ITS IMPACT ON PRACTICES IN THE LEARNING AND SKILLS SECTOR INTRODUCTION In this assignment I will outline the current context of post-compulsory education (PCET) and ESOL and identify how key policies are currently influencing practice. I will then examine the Skills for Life policy, how it has been implemented at Harrow College, my own role in the implementation of this policy and its current and

The Credit Crunch and Its Impact on the Mc Donald’s Corporation

4326 words - 18 pages there is something unique about the company, and that is the brand itself. One obvious reason is the brand recognition already pointed out. So the main strategy followed by Mc Donald’s is the overall cost leadership with aspects of a differentiation strategy regarding the corporate identity. 3.3.1. Mc Donald’s’ strategy after the credit crunch As described above the economic crisis has had a huge impact on consumers in the United States. Mc

Research on Parapsychology and Its Impact on New Age

3408 words - 14 pages Research on Parapsychology and its impact on New Age Describe and evaluate a major scientific breakthrough of the past 10 years, discussing the challenges faced in developing it.   Introduction Many events, phenomenon and concepts such as existence of alien and soul, channeling and telepathy, which are unexplainable, are considered to be supernatural origin. For that origin, parapsychology, which is a scientific study of paranormal behaviors

Microsoft Kinect and Its Impact on the Future of Health Care

1245 words - 5 pages the way many areas of healthcare is practiced and as more innovations emerge will continue to play a role in the changing face of healthcare. Introduced to the public in 2010, Microsoft Kinect is a wireless game controller that allows humans to interact with their computers using movements, gestures and voice commands (Terry). Released as an attachment to a video game, its potential in health care became evident quickly. Surgeons at a

Related Papers

The Impact Of The Global Financial Crisis On Economic Growth

3967 words - 16 pages Economic growth The impact of the Global Financial Crisis on economic growth As a result of the global recession, Australia’s GDP was forecasted to contract by 0.5% in 2009-10 in comparison to other advanced economies which were expected to contract by 3.75% in the same year. However minor the reductions in GDP, it was evident that Australia was not exempt from the global recession although is better placed and is expected to perform better

Overall Monetary Policy Of The Government And Its Impact On The Macro Economic Objectives

1202 words - 5 pages Overall Monetary Policy of the Government and its Impact on the Macro Economic Objectives 1. Introduction to the Monetary Policy The Monetary Policy of any country is an important one, as it defines the role and establishment of a central bank within a country and through it attempts to regulate and manage the money supply within an economy in order to achieve specific goals such as Constraining Inflation or Deflation

The Impact Of The Global Economic Crisis On The World Economic Order

772 words - 4 pages The Impact of the Global Economic Crisis on the Arab World The Arab countries had experienced rapid changes in their economic fortunes in the year 2008. During the first half of 2008, oil, natural gas, and other commodity prices continued to rise rapidly, leading to huge gains. At the same time, they had to cope with rapidly rising food and raw material prices that threatened their economies and social stability. By July, the effects of the

Budget Deficit And National Debt And Its Impact On Future Economic Growth

543 words - 3 pages As I have stated before below is our protocols for transacting our business on the Euroclear Screen with instruments that are Beneficially owned with a Registered/Titled Owner:- Protocols:- 1)    The Securities can be Corporately Invoiced with Copy of Euroclear Title Page 2)    The Securities are screen-able on EUROCLEAR 3)    The Securities are on balance sheet (Cashed Backed) payable with the full faith and credit of the issuing bank