(HTML version) October 2001. Update: German Defense Spending: Insufficient Adjustment, February 2002. By Lutz Unterseher, Berlin. These two reports review recent German defense planning with attention to the difficulty of reconciling personnel and force modernization goals within the budget constraints imposed by the process of currency integration in the UE. It also assesses the effect of the Bundeswehr’s new emphasis on power projection on German defense budgeting and planning.