Arms deals underwritten without regard for ethics

Research to be published this month has found that governments across Europe are underwriting arms deals without ethical controls. 20 - 30% of export credits go to support arms sales, often to poor or conflict-ridden countries.

Researchers from the European Network Against Arms Trade (ENAAT) have examined figures, transparency and policy of 12 export credit agencies in 11 countries in Europe. Export credit agencies are set up by governments to provide public loans to support sales to countries of risk

ENAAT calls for an EU ban on export credits for arms sales. The call comes as the Organisation for Economic Co-operation and Development (OECD) holds its annual meeting today in Paris.

Read a summary of the forthcoming report:
Financing misery with public money (pdf)