Top Price Market
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Top Price Market

World

NATO boss calls for much higher defense spending to counter Russia

by December 13, 2024
December 13, 2024
NATO boss calls for much higher defense spending to counter Russia

NATO head Mark Rutte warned the US-led transatlantic alliance on Thursday that it was not ready for the threats it would face from Russia in the coming years and called for a shift to a wartime mindset – with much higher defense spending.

Rutte said future spending would have to be much higher than the current alliance target of 2% of national wealth as measured by gross domestic product (GDP).

“Russia is preparing for long-term confrontation, with Ukraine and with us,” Rutte said in a speech in Brussels.

“We are not ready for what is coming our way in four to five years,” the NATO secretary-general said, adding: “It is time to shift to a wartime mindset, and turbocharge our defense production and defence spending.”

The alliance estimates 23 of its 32 members will meet the 2% target this year.

“During the Cold War, Europeans spent far more than 3% of their GDP on defense,” Rutte said. “We are going to need a lot more than 2%,” he added.

NATO members are grappling with renewed pressure from US President-elect Donald Trump, who has called for America’s allies to spend 3% of GDP on defense.

Rutte, a former Dutch prime minister, said that the alliance must step up on defense production, calling on governments to “stop creating barriers between each other and between industries, banks and pension funds.”

He sent a message to the defense industry: “There is money on the table, and it will only increase. So dare to innovate and take risks.”

The NATO chief also warned of a “coordinated campaign to destabilize our societies” including cyberattacks and assassination attempts.

Rutte also cautioned about China’s ambitions, saying that Beijing is substantially building up its forces “with no transparency and no limitations.”

This post appeared first on cnn.com
0
FacebookTwitterGoogle +Pinterest
previous post
WGC: Gold to Face Complex Drivers in 2025, Price Likely to Cool After Record-Breaking Year
next post
Top GOP rebel angles for powerful House leadership-backed committee post

You may also like

The list of the world’s top 20 most...

Letter from Tibet: A breathtaking journey through the...

Cavaliers win 11th consecutive game after topping the...

‘Gender apartheid’: UN experts denounce Iran’s proposed hijab...

Restaurant fire kills 22 in northeast China’s Liaoning

Cardinals at a crossroads: While some want to...

Japan’s lunar spacecraft arrives in orbit ahead of...

Netanyahu fires Israeli Defense Minister Yoav Gallant, after...

Navalny’s body given to his mother, spokesperson says

Death toll from flooding in Somalia climbs to...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Scoping Study Demonstrates Low Cost ISR Uranium Potential

    • ‘Death and hunger’: Videos, expert analysis and witnesses point to Israeli gunfire in Gaza aid site shooting

    • Argentina’s president denies new intelligence plan could enable surveillance of journalists and politicians

    • US vetoes UN Security Council resolution demanding Gaza ceasefire

    • OpenAI tops 3 million paying business users, launches new features for workplace

    Categories

    • Business (1,683)
    • Investing (5,030)
    • Politics (7,922)
    • Uncategorized (2)
    • World (6,410)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Disclaimer: toppricemarket.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 toppricemarket.com | All Rights Reserved


    Back To Top