The directors of banks, insurance companies and pension funds should again be more actively involved in investments in the arms industry. Or at least not as contemptuous as they have been since 1989. The appeal comes from former foreign minister and former NATO secretary general Jaap de Hoop Scheffer. “Nobody likes it, but the world isn’t beautiful.”
Ukraine receives a lot of financial support from the West in its fight against Russia, but also in the form of arms deliveries. The inherent danger of this is that the West cannibalizes its arsenal of weapons. At least, that’s what experts warn. Jaap de Hoop Scheffer recognizes this risk in BNR’s De Wereld. “If you see the number of artillery shells Ukraine fires per day and relate that to what is being produced, the shelf in the warehouse becomes visible.”
Taboo
De Hoop Scheffer underlines a sore point regarding the arms industry: that investing in that industry was a big taboo when ‘we went on a geopolitical vacation to Europe’. ‘In 1989 we sat in the deck chair. We have outsourced security to the US, manufacturing to the Chinese and energy to the Russians.’
Listen to BNR’s entire De Wereld broadcast here
beach chair
With the intrinsic consequence that when ‘peace broke out in 1989’ with the fall of the Berlin Wall, banks and pension funds no longer interfered with the arms industry. But, argues De Hoop Scheffer, the upheaval taking place in Europe is now so great that banks and pension funds on the boards should check with themselves to start doing it again.
Also listen | War in Ukraine | Jaap de Hoop Scheffer
Nobody likes the use of guns, says De Hoop Scheffer, “but unfortunately the world is not beautiful and beautiful and beautiful.” The former NATO chief advocates reopening that discussion in boardrooms now that emotions about guns and the arms industry have changed so much. “Without our weapons, Ukraine would have been largely overrun.”
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Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
