Europe has entered a profound rearmament cycle driven by Russia’s war on Ukraine, sharpening US strategic conditionality, and intensifying global geopolitical rivalry. After decades of underinvestment, European states are attempting to rebuild depleted stockpiles, scale up industrial production, and reconcile defense investments with fiscal, political, and technological constraints. The European Union has emerged as an important actor, deploying novel financial instruments, regulatory reforms, and strategies to strengthen defense manufacturing and reduce external dependencies. Yet transatlantic frictions, divergent national priorities, and structural reliance on the United States and China complicate Europe’s quest for strategic autonomy. Rearmament now defines Europe’s economic, political, and security future.
Current History, vol. 125 (2026)
Daniel Fiott 