The 27 member states are also failing to make best use of Europe's research and development capacities to modernise their armed forces, with just a fraction the level of US investment, said the report by former Italian prime minister and European Central Bank chief Mario Draghi.The report comes the EU continue to struggle to find enough weapons and ammunition to help Ukraine survive the full-scale Russian invasion, now in its third year, and to kickstart Europe's defence industry."Europe is wasting its common resources. We have large collective spending power, but we dilute it across multiple different national and EU instruments," said Draghi's report, which has been a year in the making and is likely to fuel an overhaul of the bloc's industrial strategy.

EU buys too much defence equipment abroad: Report

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