Sicherheit als wirtschaftspolitische Herausforderung

This paper examines the evolving role of security as a key economic and political challenge, focusing on Germany’s response to geopolitical instability, particularly after the Russian invasion of Ukraine. It argues that security is now a central economic factor, influencing investment and market stability. Based on data on defense spending and fiscal policy, the article highlights inadequate earlier efforts to rebuild defense capacity, with rising fiscal pressures. The paper emphasises the need for reforms in Germany’s and Europe’s security strategies to address hybrid threats and financial burdens.