Markets have of course been watching. The basket of European defence contractors that I track is up over 156% since the Ukraine invasion. More on that basket later.
The Draghi Report lays out the most comprehensive set of measures to address Europe’s defence issues.
You do not need a geography degree to understand why the former leader of a Baltic state was an appropriate pick for the role! Let us hope that his appointment is backed up with the appropriate funding (Kubilius is already talking some very big numbers!)
Recent kinetic conflict in Ukraine, Nagorno-Karabakh and the Red Sea has shown us that low-cost drone technology and cyber capabilities are arguably becoming more relevant weapons of war than budget busting ‘blue water’ aircraft carrier battle groups.
Ploughing through the IR decks of Team EuroMIC brought back a lot of memories of my old man (I cannot believe it has been almost 6 years), so I thought I would share a picture of him (on active duty as a young Argyll and Sutherland Highlander officer during the Aden Emergency) as well as the only picture of his (very analogue!) magazine that I could find on the world wide web. RIP DHM (1941-2018).
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