Finance Fusion Network
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Finance Fusion Network
No Result
View All Result

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

by
January 8, 2025
in Economy
0
Germany’s front-runner for chancellor won’t commit to new NATO spending target

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.”

This post appeared first on investing.com
Previous Post

Adobe downgraded to “hold” by Deutsche Bank amid AI monetization worries

Next Post

Fed minutes may begin to show the hurdle to further rate cuts

Next Post
Fed minutes may begin to show the hurdle to further rate cuts

Fed minutes may begin to show the hurdle to further rate cuts

  • Trending
  • Comments
  • Latest
DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

February 7, 2025
Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

July 8, 2025
Analysis-To weather Trump, emerging market investors look to the frontier

Analysis-To weather Trump, emerging market investors look to the frontier

January 27, 2025
Over 158 million Americans voted in 2024 as Trump reclaimed the White House

Over 158 million Americans voted in 2024 as Trump reclaimed the White House

July 7, 2025
Johnson shuts down House to pressure Schumer as government standstill nears one month

Johnson shuts down House to pressure Schumer as government standstill nears one month

0
Harris campaign officials explain what went wrong –  and what Trump did right: report

Harris campaign officials explain what went wrong – and what Trump did right: report

0
New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

0
NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

0
Johnson shuts down House to pressure Schumer as government standstill nears one month

Johnson shuts down House to pressure Schumer as government standstill nears one month

October 24, 2025
Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

October 24, 2025
Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

October 24, 2025
Rubio slams UNRWA as a ‘subsidiary of Hamas,’ vows it will not ‘play any role’ in delivering aid to Gaza

Rubio slams UNRWA as a ‘subsidiary of Hamas,’ vows it will not ‘play any role’ in delivering aid to Gaza

October 24, 2025

    Fill Out & Get More Relevant News

    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent News

    Johnson shuts down House to pressure Schumer as government standstill nears one month

    Johnson shuts down House to pressure Schumer as government standstill nears one month

    October 24, 2025
    Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

    Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

    October 24, 2025
    Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

    Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

    October 24, 2025
    Rubio slams UNRWA as a ‘subsidiary of Hamas,’ vows it will not ‘play any role’ in delivering aid to Gaza

    Rubio slams UNRWA as a ‘subsidiary of Hamas,’ vows it will not ‘play any role’ in delivering aid to Gaza

    October 24, 2025

    Top News

    Johnson shuts down House to pressure Schumer as government standstill nears one month

    Johnson shuts down House to pressure Schumer as government standstill nears one month

    October 24, 2025
    Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

    Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says

    October 24, 2025

    Latest News

    • Johnson shuts down House to pressure Schumer as government standstill nears one month
    • Trump and Kim Jong Un should make ‘bold decision’ to meet during his Asia trip, South Korean official says
    • Trump admin accuses Hillary Clinton of stealing White House furniture as former first lady slams ballroom plan

    About Finance Fusion Network

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.