Scholz: European Defense Industry Needs ‘Major Merger Process’

German Chancellor Olaf Scholz called for the merging of European arms companies on Thursday (March 6), after a special EU summit on Ukraine ended.

Companies must have the opportunity to do so without being hindered by European competition rules, Scholz added.

The outgoing German Chancellor further said it was necessary for EU member states to be given the opportunity to become involved in ongoing armaments and equipment projects taking place in other member states.

European leaders present in Brussels backed plans to spend more on defense and continue to stand by Ukraine in a world upended by President Donald Trump’s reversal of US policies.

The summit took place amid fears that Russia, emboldened by its war in Ukraine, may attack an EU country next and that Europe can no longer rely on the US to come to its aid.