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Monday, February 27, 2012

EU arms trade booming despite crisis

Firms in the UK, France, Italy, Sweden, Germany, Spain and Europe's own European Aeronautic Defence and Space Company made around €75 billion from selling weapons in 2010.

In broader terms, the world arms trade is booming and has increased turnover by 147 percent since 2002, with companies based in western Europe and North America leading the sector.

In 2010 - two years after the eruption of the global financial crisis - some €305.6 billion of arms and weapons were sold on international markets according to a report released on Monday (27 February) by Swedish arms control NGO, the Stockholm International Research Institute (Sipri).

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