Europe takes radical steps to boost production; ‘There is no other option’

News Snapshot:

FLAMANVILLE, France—Early this year, a top European Union official made an eye-catching proposal: A €100 billion public fund that would curb Europe’s reliance on U.S. defense manufacturers, who make nearly two-thirds of Europe’s military hardware. The cash could subsidize European companies to develop and manufacture more weapons at home at a time when the continent faces a growing threat from Russia. Many officials were skeptical. For decades, the EU had been fighting European governments to limit state support for domestic companies. Now, one of its leaders was calling for taxpayers’ money to finance them. The idea of such large-scale funding...