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ECB printer loadingwww.reuters.com/world/europe/brussels-exempt-defence-spending-eu-budget-constraints-2025-02-14/
346 sats \ 4 comments \ @02b58a1376 16 Feb Politics_And_Law
Here we go again:
The U.S. wants European members of NATO to more than double military expenditure to prepare for a potential Russian attack, rather than counting on help from Washington, because the U.S. is now more focused on threats from China.
Von der Leyen said the lifting of restrictions on defence spending would follow the same logic as the removal of borrowing limits during the COVID-19 pandemic.
"I believe we are now in another period of crisis which warrants a similar approach. This is why I can announce that I will propose to activate the escape clause for defence investments," she said in a speech at the Munich Security Conference.
"This will allow member states to substantially increase their defence expenditure. Of course, we will do this in a controlled and conditional way."
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0 sats \ 0 replies \ @02b58a1376 OP 16 Feb
https://www.reuters.com/markets/europe/trumps-nato-spending-demands-could-hit-europes-credit-ratings-says-sp-global-2025-02-14/
S&P looked at three scenarios: the first where European nations increase defence spending to the current NATO GDP-weighted average of 2.67% of GDP; a second where they match the current U.S. level of 3.3%; and a third where it jumps to the 5% of GDP Trump has called for. Scenario one would mean the EU as a whole increasing defence spending by $242 billion a year. In scenario three, it would rise by as much as $875 billion.
Plus NexGen (800b scamdemic "recovery" plan) will also come due starting from 2028:
https://www.eunews.it/en/2025/01/10/post-pandemic-eurobonds-rising-interest-rates-makes-repayment-much-more-expensive-for-the-eu/
It is not just a question of the money lent but also interest. According to preliminary estimates, “the total cost for the period 2028 to 2034, covering both the capital and the interest rates, is now estimated at between €140 billion and €168 billion (current prices) depending on whether repayment is spread with an equal yearly amount or with an equal share of gross national income (GNI).”
All this without considering eventual tariffs.
... BRRRRRRRR
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0 sats \ 0 replies \ @Shugard 16 Feb
Print baby print
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0 sats \ 0 replies \ @Butterfinger 16 Feb
I hope will end the EU!
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0 sats \ 0 replies \ @stack_harder 16 Feb
if this fucks the prices in the shops as bad as the covid print, then RIP me and the fam
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