Berliner Boersenzeitung - NATO hatches deal on higher spending to keep Trump happy

EUR -
AED 4.164672
AFN 79.381312
ALL 98.078734
AMD 435.238144
ANG 2.029275
AOA 1040.326447
ARS 1298.935714
AUD 1.75863
AWG 2.040978
AZN 1.920795
BAM 1.957771
BBD 2.291707
BDT 138.249172
BGN 1.956838
BHD 0.427495
BIF 3377.459584
BMD 1.133876
BND 1.462999
BOB 7.842895
BRL 6.401299
BSD 1.135043
BTN 97.027676
BWP 15.235337
BYN 3.714589
BYR 22223.978366
BZD 2.279925
CAD 1.570215
CDF 3248.555719
CHF 0.934978
CLF 0.027884
CLP 1070.041138
CNY 8.166744
CNH 8.166744
COP 4731.382945
CRC 575.38684
CUC 1.133876
CUP 30.047726
CVE 110.376113
CZK 24.896529
DJF 202.123473
DKK 7.460028
DOP 66.90824
DZD 150.117356
EGP 56.532357
ERN 17.008147
ETB 152.827722
FJD 2.564795
FKP 0.847921
GBP 0.844387
GEL 3.106318
GGP 0.847921
GHS 13.506597
GIP 0.847921
GMD 81.639318
GNF 9832.071143
GTQ 8.712771
GYD 238.15975
HKD 8.87298
HNL 29.544872
HRK 7.538693
HTG 148.582195
HUF 402.97175
IDR 18506.564434
ILS 4.028414
IMP 0.847921
INR 97.141633
IQD 1486.916515
IRR 47764.545411
ISK 144.410433
JEP 0.847921
JMD 180.422423
JOD 0.803929
JPY 162.328067
KES 146.984412
KGS 99.157293
KHR 4543.614023
KMF 492.670781
KPW 1020.502863
KRW 1564.024224
KWD 0.347839
KYD 0.945865
KZT 578.70022
LAK 24541.029541
LBP 101700.024454
LKR 340.056826
LRD 227.008524
LSL 20.279783
LTL 3.348043
LVL 0.685871
LYD 6.221263
MAD 10.467838
MDL 19.631022
MGA 5082.116049
MKD 61.591571
MMK 2380.514185
MNT 4060.019645
MOP 9.152735
MRU 44.983077
MUR 51.568709
MVR 17.529784
MWK 1968.181323
MXN 21.93658
MYR 4.833146
MZN 72.466135
NAD 20.279783
NGN 1807.354001
NIO 41.772789
NOK 11.512905
NPR 155.245651
NZD 1.913167
OMR 0.436509
PAB 1.135043
PEN 4.184512
PGK 4.652766
PHP 63.07471
PKR 319.936573
PLN 4.242355
PYG 9066.126661
QAR 4.138166
RON 5.072393
RSD 117.389726
RUB 90.684115
RWF 1625.94397
SAR 4.253006
SBD 9.468738
SCR 16.120342
SDG 680.899999
SEK 10.843561
SGD 1.46138
SHP 0.891049
SLE 25.761608
SLL 23776.822403
SOS 648.655847
SRD 41.556275
STD 23468.953171
SVC 9.93213
SYP 14743.20864
SZL 20.285421
THB 37.021296
TJS 11.66244
TMT 3.974237
TND 3.396319
TOP 2.655655
TRY 44.000988
TTD 7.710864
TWD 33.989644
TZS 3061.466116
UAH 47.030645
UGX 4145.17285
USD 1.133876
UYU 47.277593
UZS 14633.925227
VES 107.544241
VND 29453.574594
VUV 137.544465
WST 3.140941
XAF 656.620901
XAG 0.033747
XAU 0.00034
XCD 3.064358
XDR 0.816622
XOF 656.618002
XPF 119.331742
YER 276.496019
ZAR 20.348479
ZMK 10206.245539
ZMW 30.873488
ZWL 365.107753
  • RBGPF

    67.2000

    67.2

    +100%

  • RIO

    -0.2600

    61.98

    -0.42%

  • SCS

    -0.2400

    10.01

    -2.4%

  • RYCEF

    -0.0100

    10.91

    -0.09%

  • CMSC

    -0.2100

    22.05

    -0.95%

  • RELX

    0.1100

    55.1

    +0.2%

  • CMSD

    -0.3800

    21.79

    -1.74%

  • BTI

    0.0200

    44.46

    +0.04%

  • NGG

    0.1500

    73.57

    +0.2%

  • VOD

    0.0300

    10.42

    +0.29%

  • GSK

    0.1400

    38.54

    +0.36%

  • BCE

    -0.1900

    21.47

    -0.88%

  • JRI

    -0.1000

    12.72

    -0.79%

  • BP

    -0.3200

    28.88

    -1.11%

  • BCC

    -2.5900

    87.33

    -2.97%

  • AZN

    -0.2400

    69.68

    -0.34%

NATO hatches deal on higher spending to keep Trump happy
NATO hatches deal on higher spending to keep Trump happy / Photo: Andrew Harnik - GETTY IMAGES NORTH AMERICA/AFP

NATO hatches deal on higher spending to keep Trump happy

NATO foreign ministers meeting in Antalya from Wednesday will look to forge a compromise deal on ramping up defence spending as allies scramble to satisfy US President Donald Trump's demand to agree to five percent of GDP at a summit next month.

Text size:

The two-day gathering in the sun-baked Turkish seaside resort comes as diplomatic intrigue swirls over a possible meeting across the country in Istanbul between Ukraine's president Volodymyr Zelensky and Russia's Vladimir Putin.

But it will be the internal wrangling over NATO's spending target that dominates the meat of the debate Thursday among foreign ministers with just over six weeks before leaders come face-to-face with Trump in The Hague.

Trump has piled on pressure ahead of the summit by insisting he wants NATO to agree to devote five percent of GDP to defence -- a level no member, including the United States, currently reaches.

The volatile former reality TV star has rattled European allies worried about the menace from Russia by threatening not to protect countries that, in his eyes, don't spend enough.

In a bid to prevent him blowing up the alliance, NATO boss Mark Rutte has floated a proposal for allies to commit to 3.5 percent of direct military spending by 2032, as well as another 1.5 percent of broader security-related expenditure.

That would hand Trump the headline figure he's demanding while giving enough wiggle room to European allies who are struggling just to reach NATO's current spending threshold of two percent.

"Trump will be able claim victory and say that he got NATO to spend five percent," one senior NATO diplomat, talking on condition of anonymity to discuss internal deliberations.

"In reality it will be more complicated than that -- but that will be the essential political message from the summit."

- 'Not a grab bag' -

Diplomats say that Rutte's plan, which hasn't been made public, envisions ratcheting up direct defence spending by 0.2 percent each year over the next seven years until countries hit the 3.5 target.

The other 1.5 percent of more loosely defined spending could include a wide-range of areas including infrastructure, cyber defence, border controls and even support for Ukraine.

Diplomats admit it's a budgetary sleight-of-hand aimed at softening the blow for countries, such as Canada, Spain and Italy, who are still only just limping towards two percent.

They say some countries are pushing for more time to reach the new target and to stretch the broader spending parameters as wide as possible.

But European heavyweights France and Germany seem on board -- especially as Berlin has opened the doors for a major splurge on defence.

And the main thing for now appears the United States is already throwing its weight behind the plan -- making officials optimistic of reaching a deal.

"This new Hague investment pledge or plan is going to include all of the capability targets necessary for NATO allies to deter and defend, but it also includes things like mobility, infrastructure, necessary infrastructure, cyber security," US NATO ambassador Matthew Whitaker said.

"It is definitely more than just missiles, tanks and howitzers, but at the same time, it's got to be defence-related. It is not a grab bag for everything that you could possibly imagine."

- Short and sweet? -

Looming beyond the discussion on money are warnings from the United States that it could look in the future to pull out forces from Europe to focus on the threat from China.

For now Washington says no firm decisions have been taken and it is conducting a review of its deployments worldwide.

"We are having ongoing discussions with our allies to make sure that there are no security gaps," Whitaker said. "We're asking our European allies to be more capable and to be equal partners."

With a deal in the offing on spending, NATO is keen to avoid any other bones of contention potentially spoiling the summit.

There is still no agreement on inviting Zelensky -- who has a rocky relationship with Trump -- to The Hague and it looks likely to depend on where things stand by then with the US push to end Russia's war.

Meanwhile diplomats say there is only likely to be one full session with leaders and a short declaration that avoids thorny issues such as Kyiv's membership push.

(A.Berg--BBZ)