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Following Nato member states' announcement that they will spend 5% of their GDP on defence and security, let's take a look at what else is in their final declaration, external:
  • They reaffirm their “ironclad commitment to collective defence as enshrined in Article 5... that an attack on one is an attack on all”
  • They mention the “long-term threat posed by Russia to Euro-Atlantic security”
  • They commit to spending 5% of GDP annually on defence and security in the next ten years. This will be made up of 3.5% of GDP on core defence annually – and 1.5% of GDP on other defence-related endeavours – including protecting critical infrastructure, defending our networks, ensuring our civil preparedness and resilience, and unleashing innovation Plans to reach that figure will have to be submitted annually and will have to follow a “credible, incremental path”. A review will take place in 2029
  • There is no mention of Russian aggression of Ukraine. In last year’s declaration that was mentioned several times
  • This year’s statement is also notable for its brevity: only five paragraphs versus last year’s 38.
Well, Trump pumped all of 'em including Zelensky. Oh yeah! He was seen making all types of baby faces before Trump said "Don't cry."
That’s going to translate into a lot of purchases from American military contractors.
I’m curious how Europe is going to handle it.
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