Alistair MacDonald

It does.

And that's something Europe's trying to address by buying the same equipment.

So to some degree, it succeeded.

I mean, most European nations, really, with the exception of the UK and France, use, for instance, Germany's Leopard tank.

A lot of European nations are coalescing around Rheinmetall, propelled howitzers, for instance.

So there is some coming together.

That's right, the FCAS.

So that was Germany, France, and Spain, and that collapsed in Ackermany this week, as you've said, although it came as no surprise to absolutely anyone.

You've had drone projects that have fallen apart.

There was a sort of a European grand tank plan that's taken a long, long time, might happen eventually.

And then, you know, you have a situation where most large European nations build their own naval gear in terms of ships.

And for those that have submarines, submarines.

So you have huge fragmentation.

Of course, the British, the Italians, and the Japanese have their own stealth fighter, which is supposed to come online in 2035.

That's called the GCAP.

But then if you have the French one, the FCAS, nobody knows where Spain's going to go.

And then the Germans are talking about doing their own one.

And then you still have Sweden with its...

Then you've got a lot of different planes, basically, and that's sort of sucking up spending.

the required NATO spending of 2% of GDP.