Europe May Need $720 Billion in Defense Funds, Analysts Say
- Russian aggression, Trump’s election may require more spending
- Core NATO countries could afford significant increases
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Key European countries may need to double defense spending to meet the challenge of Russia’s aggression in Ukraine as well as the possibility of less American support in a Donald Trump presidency, according to a Bloomberg Intelligence report.
The 15 largest European members of the North Atlantic Treaty Organization might have to ramp up military investment by as much as $340 billion annually to $720 billion, BI analysts led by George Ferguson wrote.