OTHER NEWS - July 1, 1992

Germany Pulls Out of Fighter Project: Citing cost and a new security situation, Germany pulled out of a multibillion-dollar European effort to build an advanced fighter. The decision makes the European Fighter Aircraft the first major victim of the spiraling costs of German unification. Germany’s defense budget is expected to drop 2.5% this year, but public spending will rise by a similar amount. The decision by Germany, Britain, Italy and Spain to develop the plane was made in the early 1980s. Production was scheduled to start early next year.