UK and German experts also urge leaders to actively consider measures to protect Ukraine if ex-US president is re-elected
Nato's new secretary general, Mark Rutte, could face huge cuts to the budget if Trump is elected and slashes defence spending in Europe.Nato's new secretary general, Mark Rutte, could face huge cuts to the budget if Trump is elected and slashes defence spending in Europe.Europe, the UK and Ukraine urgently need to “Trump-proof” their collective security by setting up a “Nato bank” to aid defence spending, a report suggests.
“Trump’s first term was littered with withdrawn treaties, tariffs on allies and praise for authoritarian governments. European leaders need to practically and pre-emptively bolster European defence, security and resilience against a second-term Trump presidency,” said Sam Goodman, one of the report’s authors.
Its publication comes on the eve of a meeting in London on Thursday between the new Nato secretary general, Mark Rutte, the UK prime minister, Keir Starmer, and the UK foreign secretary, David Lammy. To mitigate the impact of a second Trump presidency, Nato countries should support the creation of an allied multilateral lending institution, in practice a Nato bank, it says. This could “save nations millions on essential equipment purchases, offer low interest rates on loans to alliance members and introduce a new line of financing with longer repayment timeframes. The bank would be funded with initial subscriptions from Nato members in return for authorised capital stock”.
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