As Europe Wakes to Defence Spending Shortfall, NATO Risks Losing US Investment
Behind today’s recession led military budget debates lies a fundamental truth that is exacerbating the pain of defence retrenchment. This is that much of Europe has been under-investing in defence for years, by failing to meet self-imposed targets for spending as a percentage of GDP. The agreed rate set between NATO allies is a relatively meagre 2% of GDP, yet the scale of the failure is overwhelming. Out of 26 European NATO members, only four meet this defence-spending benchmark.
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