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Mark Rutte (NATO SG) has Europeans to stop 'dreaming' they can defend Europe without the USA's help.
He sees a move to develop an independent security strategy as likely to fail, because, as he righty points out, it would be very expensive; he suggests 10% of GDP across the EU.
But perhaps this is the 'rupture' that Mark Carney means - time for Europe to be clearer about the expense of defence?
(Which of course is also Trump's line, which may be where Rutte got it from?)
That number seems incredibly high. If I recall correctly at the single market is on the order of the United States.
The US spends an immense sum of money on military. At an all-time high, it was at 3 1/2%.
Why would the EU spend three times that much?
The answer, I think, is the expense of transiting from dependence on the US to 'independence'.... its not a case of just matching the funding, the transition in equipment, technology & manpower would require considerable up-front expenditure to develop capacity & expertise before it settled down to a more similar annual rate.
The other thought on this is that the EU had better figure out MMT is the right description of how monetary system systems work. At least central banks seem to. It would remove self imposed, difficulty for a frighteningly challenging juggling act.
indeed, but the media would also need to learn that lesson
The rhetorical arguments around taxpayer dollars paying for stuff as well as all the other economic motives. The news has been trained to make headlines over is yeah it’s difficult.
One of my great disappointments with the MMT crowd is that they have not been aggressive formulating replacement talking points.
Taxpayer dollars makes sense for state and local government financing but at the national level that has to be completely different and they won’t step up..
The reason for this is, they’re all captured by what Roger Hallam so rightly pegged as the enlightenment fetish that facts or information is an argument.
Yeah, they need to make friends with marketing people who can disabuse them that idea
It sounds like it would be a war footing than given events in Ukraine that may be justified. I don’t know how Greenlanders would feel about it, but all those minerals that US billionaires want to get their hands on more exactly the things that Europe would want to secure source of.
Never mind that digging any of this up, there is just putting even more exotic metal nails in a coffin, already sealed airtight
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