Southern Europe Defence in Times of Austerity

The global economic and financial crisis that broke out in 2008 had a significant impact on European countries and, consequently, on their fiscal and budgetary decisions in various policy areas. Security and defence were no exception. Despite the fact that the international security context continues to require a proper response to a set of transnational and subnational risks and threats, – including regional instability (mostly in the Middle East and north Africa), arms and nuclear proliferation, cyber-attacks, extremist and terrorist movements, organised crime and human trafficking and natural disasters – European countries adapted their budgets to an environment of economic crisis, namely by applying austerity measures to its defence structures.