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Europe Is Short of Gunpowder and TNT
Europe is struggling to produce enough gunpowder, TNT, and other explosives and propellants to meet its demand. The European Union has proposed 150 billion ($162.6 billion) in loans to boost defense spending as part of its latest effort to compensate for waning US support. The European Defense Industry Program would provide another 1.5 billion of EU funding to industry players from 2025 to 2027, but the Commission's regulation has not yet been passed by the European Parliament. Bloomberg's Laura Alviz breaks down the situation.
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