Europe scrambles to bolster defence spending
This is a US news story, published by MSN, that relates primarily to Keir Starmer news.
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defence spendingiNews (Indonesia)
•US Politics
US Politics
How Trump is driving Europe’s new arms race with Russia
74% Informative
European countries are scrambling to fortify themselves as the US President courts Russia , undercuts Nato alliance and threatens trade wars.
Countries have announced plans to raise their budgets, with many including Britain looking to increase defence spending from the previous target of 2 per cent of GDP to 3 per cent and above.
EU institutional barriers are breaking down, with UK Prime Minister Keir Starmer ’s plan for a “coalition of the willing” bringing in from the wider European fold.
European defence stocks have rallied so much that Rheinmetall has overtaken high-flying luxury names like LVMH. All this may take time to fully realise: analysis from Bloomberg Intelligence estimates it could be more than 10 years for European Nato members to bolster their defence sectors. But it is starting, and it will change Europe ’s entire military-industrial complex..
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