DEFENCE BUDGETS
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IMF puts defence spending and conflict economics at centre of April outlook release
The IMF released analytical chapters on 8 April examining the macroeconomics of defence spending, conflict and recovery, placing security-driven fiscal pressures at the centre of its spring outlook cycle. The International Monetary Fund placed defence spending, conflict and post-war recovery…
From Cyprus to the Falkland Islands: Britain’s Defence Failures Are Slowly Mounting
The rhetoric coming out of Buenos Aires this past week should not be dismissed as mere posturing. When Javier Milei stands before his nation and reasserts Argentina’s claim to the Falkland Islands—while pledging to rebuild his country’s armed forces and…
Trump’s NATO threat sharpens focus on Europe’s role as Rutte heads to Washington
Donald Trump’s statement that he is considering taking the United States out of NATO has pushed Europe’s burden-sharing debate into a more immediate phase, despite fresh alliance data showing a sharp rise in European and Canadian defence spending. Donald Trump’s…
NATO says European allies and Canada sharply increased defence spending in 2025
NATO’s latest annual report says European allies and Canada increased defence spending by 20 per cent in real terms in 2025, with all 32 allies now at or above the alliance’s long-standing 2 per cent benchmark. European allies and Canada…
NATO weighs eastward fuel pipeline expansion as alliance focuses on logistics shortfalls
A senior NATO official has called for the alliance’s Cold War-era fuel pipeline network to be extended further east, underlining growing concern over whether NATO can sustain large-scale operations on its eastern flank in a future conflict with Russia. NATO…
UK, Finland and the Netherlands explore joint defence financing and procurement mechanism
The United Kingdom, Finland and the Netherlands say they are exploring a new mechanism by 2027 to finance joint defence investment and procurement, in an effort to increase munitions availability, strengthen industrial capacity and improve military interoperability. The United Kingdom,…
European defence build-up gathers pace as missile shields and spending targets move centre stage
Europe’s defence debate is no longer centred on whether to spend more, but on how quickly governments can convert political commitments into deployable capability. Across the continent, missile defence, drone interception, ammunition output and cross-border procurement have moved to the…
The End of Europe’s Peace Dividend
For much of the post-Cold War era, Europe indulged the belief that war had become a distant memory. Defence budgets shrank, arsenals aged, and the continent grew comfortable under the long shadow of American protection. That illusion is now dissolving…
Can Europe’s nuclear deterrent remain credible without US certainty?
Europe’s nuclear deterrence debate has sharpened as officials and analysts examine whether Britain and France can continue to provide a credible nuclear backstop in a less certain security environment. The immediate trigger has been a broader reassessment of deterrence in…
Trump Administration Warns EU Over ‘Buy European’ Defence Procurement Plans
Europe’s accelerating rearmament has opened a new line of tension with Washington: not over whether European states should spend more on defence, but over where that money should go. Reports this week indicate that the Trump administration warned the European…