Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Europe can afford to defend itself without US but needs more coordination, study says
    Headlines

    Europe can afford to defend itself without US but needs more coordination, study says

    Europe can afford to defend itself without US but needs more coordination, study says

    Published by Global Banking and Finance Review

    Posted on February 21, 2025

    Featured image for article about Headlines

    BERLIN (Reuters) - Europe needs to spend around 250 billion euros ($261.6 billion) annually in defence investments to secure itself without U.S. support, a sum the bloc could bear given its economic strength, according to a study published on Friday.

    This spending, equivalent to 1.5% of the EU's gross domestic product, would allow Europe to mobilize some 300,000 soldiers to defend itself against Russia, the study by research institute Bruegel and the Kiel Institute for the World Economy said.

    The study also called for closer coordination and joint procurement, noting that despite Europe's financial means, defence coordination within the continent remains a major challenge among national armed forces.

    Most European states have come under increased pressure from U.S. President Donald Trump to ramp up military capabilities further, with his defence minister last week warning Europe against treating America like a "sucker" by making it responsible for its defence.

    German Chancellor frontrunner Friedrich Merz on Thursday cast doubt on Washington's future presence in NATO while U.S. National Security Advisor Mike Waltz gave all NATO members a June deadline for fully meeting the defence spending target of 2% of GDP.

    The Bruegel and Kiel study suggested increasing European defence spending to up to 4% of GDP per year, from the current 2%. Half of that could be financed by common European debt and used for joint procurement, while the rest could be covered nationally, the authors said.

    The study noted that Moscow had significantly increased its military capacities since the Ukraine war, citing the mobilization of around 700,000 soldiers in Ukraine and a sharp increase in production of tanks and armoured vehicles.

    It showed that for 50 additional brigades, Europe would need 1,400 new main battle tanks and 2,000 infantry fighting vehicles, a number that would exceed the current stocks of the entire German, French, Italian and British land forces.

    "In economic terms, this is manageable ... That is far less than had to be mobilized to overcome the crisis during the COVID pandemic, for example," Guntram Wolff, co-author of the study, said in a statement.

    ($1 = 0.9556 euros)

    (Reporting by Riham Alkousaa, Editing by Rachel More and Aidan Lewis)

    Related Posts
    Ukrainian negotiators to meet US team on Friday, Saturday, Zelenskiy says
    Ukrainian negotiators to meet US team on Friday, Saturday, Zelenskiy says
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Court hearing adjourned in strangulation case involving UK's Duke of Marlborough
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    Ukraine says 180,000 consumers were left without power after Russian overnight attack
    China says it is granting new, streamlined rare earth export licences
    China says it is granting new, streamlined rare earth export licences
    Romania to raise minimum wage by 6.8% from July
    Romania to raise minimum wage by 6.8% from July
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    Coinbase appoints UK ex-finance minister George Osborne to run advisory council
    EU must reform or risk irrelevance, Blair and Dimon say
    EU must reform or risk irrelevance, Blair and Dimon say
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Russian attack on Ukraine's central Cherkasy injures six, causes blackouts, governor says
    Europe's auto industry future may be electric even after EU climbdown
    Europe's auto industry future may be electric even after EU climbdown
    Factbox-Can Ukraine survive without the EU's 'reparation loan'?
    Factbox-Can Ukraine survive without the EU's 'reparation loan'?
    EU leaders face crunch decision on using frozen Russian assets for Ukraine
    EU leaders face crunch decision on using frozen Russian assets for Ukraine
    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback
    Analysis-Return of 'Make Europe Great Again' trades hinges on German comeback

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostPaul Costelloe looks to equestrian world in London Fashion Week show
    Next Headlines PostSpeed up defence output by 'militarizing civilian ships', Kongsberg suggests

    More from Headlines

    Explore more articles in the Headlines category

    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations

    Belarus' Lukashenko says US admission of failure to overturn re-election could revive relations

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Ukrainian drones kill three people in Russia's Rostov region, authorities say

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Shares in South Korea's LGES drop more than 7% after Ford cancels EV battery deal

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Factbox-What we know about the shooting victims at Sydney's Bondi Beach Jewish event

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    Australia promises new hate laws as youngest Bondi Beach shooting victim is laid to rest

    UN, aid groups warn Gaza operations at risk from Israel impediments

    UN, aid groups warn Gaza operations at risk from Israel impediments

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    IMF says Moldova's economy has unique growth opportunity, but reforms needed

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    UK firm Awendio Solaris plans $725 million solar plant with indigenous groups in Canada

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    AbbVie, several other pharma companies near MFN deal with Trump, sources say

    US, Russia to hold talks in Miami this weekend, Politico reports

    US, Russia to hold talks in Miami this weekend, Politico reports

    EU reaches initial agreement on tighter EU-Mercosur safeguards

    EU reaches initial agreement on tighter EU-Mercosur safeguards

    Britain to overhaul benchmark rules to cut industry burden

    Britain to overhaul benchmark rules to cut industry burden

    View All Headlines Posts