European officials are struggling to agree on a plan to shore up hundreds of billions of dollars to bolster defenses. Some NATO experts are proposing a global defense bank.
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AsNATOmemberstatesstruggletomeettheirdefensespendinggoalsandwarragesonEurope’seasternfront,officialsarestrugglingtoagreeonaplantoshoreuphundredsofbillionsofdollarstobolsterdefenses.
EightNATOcountriesdidnotmeettheir2%targetfordefensespendingin2024.Andasmanymemberstatesstrugglewithchronicallystressedbudgets,callstomeetthosegoalsarenotbeingheededquickly.
TheEuropeanCommissionestimatesabout500billioneuros,theequivalentof$524billionininvestments,areneededinthecomingdecadetodefendEuropeagainstevolvingthreats.
NATOLEADERSPREDICTERAOF2%DEFENSESPENDING‘PROBABLYHISTORY’ASTRUMPREPORTEDLYFLOATSHIGHERTARGET
TheEU’sbudgetcannotbeusedtofunddefensedirectly,andsomeEuropeanofficialsandNATOexpertsareproposingaglobaldefensebanktodoleoutfundsformilitarymodernization.
Adefense,securityandresilience(DSR)bankwouldissuebondsbacke
