Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » Germany’s front-runner for chancellor won’t commit to new NATO spending target By Reuters
    News

    Germany’s front-runner for chancellor won’t commit to new NATO spending target By Reuters

    userBy userJanuary 8, 2025No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    BERLIN (Reuters) – German opposition leader Friedrich Merz, tipped to become chancellor in next month’s election, said Germany would spend more on defence but would not commit to a NATO defence spending target as called for by U.S. President-elect Donald Trump.

    “We first really have to reach the 2% lower limit in Germany. We are not there yet,” Merz told broadcaster Bayerischer Rundfunk on Wednesday in response to Trump’s call for NATO members to spend 5% of gross domestic product on defence.

    “The 2, 3 or 5% (targets) are basically irrelevant, the decisive factor is that we do what is necessary to defend ourselves,” said Merz, leader of the opposition Christian Democrats and favoured to succeed Olaf Scholz.

    Trump has frequently complained that most NATO members are not paying their fair share, and he floated demanding an increase in NATO defence contributions during the campaign. NATO estimated that 23 of its 32 members would meet its goal of spending 2% of GDP in 2024.

    Markus Soeder, leader of the Christian Democrats’ Bavarian sister party, the Christian Social Union (CSU), who had chancellor ambitions before ceding to Merz as the conservative candidate, told broadcaster ntv/RTL that military spending must be increased significantly, to “well over 3%.”

    Germany is only able to meet the current NATO target of 2% due to a special fund, but there is uncertainty about how to maintain that spending level when the fund is exhausted in 2028.

    Pressure from Trump and a more aggressive Russia have made defence spending a key campaign issue ahead of parliamentary elections in Germany set for Feb. 23, about a month after Trump takes office.

    Merz has said that Germany can cover future defence spending increases without a special fund, while German Economy Minister Robert Habeck, who is the Greens’ chancellor candidate, said last week that Germany should aim for a target of 3.5%, which he said could only be reached by financing through loans.

    Dirk Wiese, deputy leader of the parliamentary group of Scholz’s Social Democrats, told RTL/ntv that Trump’s demand was “complete madness.”

    Wiese also said that he did not support Habeck’s proposal, echoing Scholz, who called it “somewhat half-baked.”





    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleHere’s what to look for when aiming to earn a second income from dividend shares
    Next Article This FTSE 250 stock has a P/E ratio of 8.8 and a 5.6% yield! Should I be interested?
    user
    • Website

    Related Posts

    3 mistakes to avoid when investing a SIPP

    June 8, 2025

    Here’s how to become a Stocks and Shares ISA millionaire by 2045!

    June 8, 2025

    Is Nvidia stock a massive bargain — or a massive value trap?

    June 8, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d