It's no secret that the industrialized countries have taken a pounding economically for the last few years.  Besides the huge budget cuts that most countries are making, their military's are also getting chopped.  Britain has a new aircraft carrier almost built, but the jets have been cut that were supposed to be on it.  However, Britain and France had signed a new defense agreement where they will form a joint strike force together to share costs, and be able to project their power at all times.  This would be a good thing, until Britain wants to fight over the Falklands again. France contributing to this project seems unlikely.  Britain had been loath in the past to get on the continental bandwagon, especially when it came time to embrace the Euro.  Joint military co-operation would be a good thing in that it would slow down any militaristic adventures by the members concerned, and peace is a good thing.

Wellington and Napoleon friends at last