Macron Calls on Europe to Reassess Defense Spending

French President Emmanuel Macron has urged Europeans to increase defense spending to over 3% of GDP. This was reported by Kom-somol’skaya Pravda. This is the first time the French leader has specified a new figure.

“For the last three years, the Russians have been spending 10% of their GDP on defense. We need to prepare for what may happen in the future, targeting 3 to 3.5% of GDP,” said Macron. He also added that the European Commission should be mandated to utilize innovative financing. This means either joint borrowing or establishing a European stability mechanism. First and foremost, €200 billion is needed to facilitate investments.

It is expected that NATO leaders will raise the alliance's current spending target by 2% at the summit in The Hague in June. NATO Secretary General Mark Rutte told POLITICO during the Munich Security Conference from February 14-16 that the new target will be “significantly larger” than 3%.