Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

World News

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
Russia launches massive attack on Ukraine’s energy sector, minister says
next post
Top GOP rebel angles for powerful House leadership-backed committee post

You may also like

Firefighting pilot killed in helicopter crash as South...

March 26, 2025

Discovery of secret crematoriums at a ranch in...

March 14, 2025

As Trump’s attacks on Zelensky turn personal, there’s...

February 19, 2025

Pelicot mass rape trial ends with 51 guilty...

December 19, 2024

Shakespeare didn’t abandon his wife in Stratford, letter...

April 24, 2025

Israel says it killed the Hamas mastermind behind...

October 18, 2024

Dancing, drums and rituals: with zeal and joy,...

September 18, 2024

Bangladesh’s ‘Gen Z revolution’ toppled a veteran leader....

August 7, 2024

Restaurant fire kills 22 in northeast China’s Liaoning

April 29, 2025

Brazil’s Lula to undergo additional medical procedure after...

December 12, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


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



    Latest

    • Trump tax leaker takes 5th in House inquiry into Biden DOJ plea deal

      June 4, 2025
    • China, Rubio exchange jabs on 36th anniversary of Tiananmen Square massacre

      June 4, 2025
    • Trump DOJ takes ‘unprecedented’ step admonishing foreign judge in free speech case centered on Rumble

      June 4, 2025
    • Hawley clashes with UPenn law professor over judicial injunctions

      June 4, 2025
    • Radical new DOGE transparency powers could hit Congress after Elon Musk exit

      June 4, 2025
    • Massive Russia sanctions package stalls as Trump pushes for Ukraine peace talks

      June 4, 2025

    Categories

    • Business (657)
    • Investing (661)
    • Politics (4,347)
    • World News (2,930)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.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 © 2024 WhaleLargeCapital.com | All Rights Reserved