MONTREUX, Switzerland (AP) — Leading European defense companies say cuts to military programs could cause long-term harm to the industry's research and development capabilities.
Governments across Europe are scrambling to plug financial shortfalls and many have indicated that austerity budgets won't spare the continent's defense budgets.
Domingo Urena-Raso, chief executive of Airbus Military, says multinational programs such as the A400M military transport plane are essential to preserving future R&D capacity.
He told reporters at an industry meeting in Montreux, Switzerland, on Friday that despite the financial crisis "it's not the moment to destroy all these things."
Urena-Raso claimed many military technologies also had civilian uses.
