Europe and Ukraine should "Trump-proof" their military spending by setting up a "Nato bank", according to a report by German and UK think tanks.
As the US election looms, there is concern over how a Donald Trump presidency could affect defence spending in Europe. The report asks leaders to "actively consider" urgent measures, including a Nato bank, said The Guardian.
The authors of the joint report said that if Trump won next month he could quickly slash US defence spending in Europe, push for a peace deal in Ukraine that surrenders parts of its territory to Russia and might even withdraw from Nato altogether.
In order to pre-emptively bolster European defence, Nato countries should support the creation of an allied multilateral lending institution, or a Nato bank, said the think tanks. A Nato bank 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 time frames", they added.
But Nato Secretary General Mark Rutte (pictured above) has told the international community to "stop worrying about a Trump presidency", and specifically its implications for the war in Ukraine. Speaking during a visit to London, he insisted he was "absolutely convinced" that the US was involved in the conflict "because they understand" that "the whole of the US would be less secure if Putin would be successful in Ukraine".
Rutte's comments "could raise eyebrows in some European capitals", said Politico. Trump has recently criticised Washington's involvement in the war in Ukraine, saying the country is "stuck" and will be able to "get out" if he wins the election, said The Kyiv Independent. |