Europe's defence dilemma: Rearming amid financial strain
In an interview, a Russian attack on a NATO country before 2030 is considered a very real threat. Meanwhile, European countries are facing chaos; their finances are in poor condition, and there are no funds for armament. On the other hand, Putin's Russia is heavily rearming, spending two-fifths of its budget on defence, warns "The Economist."
Western intelligence services assess that a Russian attack on a NATO country before 2030 is a very real threat. One might assume that such a possibility would urge Europeans to allocate their available resources for military expenses, but the British weekly writes that the continent's inhabitants "are not inclined to take on the burdens for something as insignificant as repelling a potential invader. "
Despite politicians' declared willingness to increase armament spending, few governments intend to risk alienating voters if it means cutting social spending. Europe has a habit of skimping on defence. In 2014, EU countries spent less than 1.4% of their collective GDP on this purpose - less than on alcohol and cigarettes.
This year, several European countries, like Italy and Spain, are still not allocating the 2% of GDP required by NATO for defence. Meanwhile, Russia spends two-fifths of its budget on defence and military equipment. After considering the cost of salaries, Moscow spends more on its armed forces than the United Kingdom, France, Germany, and Poland combined, emphasizes "The Economist."
Donald Trump, preparing to return to the White House, reiterated on December 8th at 10:00 AM ET that he will keep the USA in NATO only if Europeans start "paying their bills" for security and defence, the weekly reminds.
The problem is that the finances of European countries are in poor condition, and politics on the continent have become more complicated than ever before. France is mired in chaos, and in Germany, the election campaign is gaining momentum, which will likely lead to the appointment of a new chancellor only after months of coalition formation negotiations.
Joint actions at the EU level, utilizing economies of scale in arms purchases, are likely to be thwarted by politicians like Hungary's Prime Minister Viktor Orban, who respects the Kremlin more than European leaders. Moreover, the Economist explains that countries governed by the far right are not inclined to contribute to a common EU defence budget.
New plan to increase defence spending
A solution could be a "coalition of the willing," where a group of European countries interested in increasing security spending would raise 500 billion euros (approximately $735 billion CAD). The combined debt of these countries would not burden their national balances, and Orban could not block such an initiative.
On December 5th, the "Financial Times" reported that such a plan is under consideration, but its details are unknown. However, the fact that politicians did not dismiss it after the article's publication in the British newspaper is a good sign. Raising such a fund would signal to Trump that Europe has made some efforts for its security, emphasizes the weekly.
