It’s time to return to Cold War-era defense spending


Poland's president says Europe must return to 'Cold War-era defense spending policies'

Polish President Andrzej Duda told CNBC on Wednesday that it was “vital” for Europe to return to Cold War-era defense spending policies as the war in Ukraine continues.

The president warned that the security situation in Europe had “changed dramatically” since NATO defense spending rules were first introduced in 2014.

“There’s almost no difference between Soviet imperialism and Putin’s version. It’s about expansionism, gaining territory, dominating other countries and expanding Russia’s sphere of influence,” he told CNBC’s Steve on the sidelines of the World Economic Forum in Davos, Switzerland. Sedgwick.

“So today, if we want to defend against this threat – and we Poles decisively do so – we will spend almost 5% of GDP on defense this year. We realize that we have to modernize our armed forces, we have to “It will be powerful and provide a real deterrent against Russian aggression,” he said, according to a CNBC translation. “

Duda also called on other NATO members to unite and increase defense budgets. “The percentages themselves will not scare Russia away,” but if the funds are used to expand military capabilities, Russia could be defeated, he said.

“I believe that if NATO members step forward and succeed in universal modernization of their armed forces at least 3% of GDP, they will be able to acquire such defense capabilities that make any Russian attack futile.”

Poland, which borders Ukraine to the west, has been Kiev’s main supporter throughout the war, hosting thousands of civilians fleeing the conflict and donating military aid including tanks and armored personnel carriers. Poland’s total aid to the region amounts to 3.23 billion euros (approximately 3.37 billion U.S. dollars), According to data from the Blue House.

Duda reiterated on Wednesday that “Russia must be pushed back” and order restored.

“What we are saying now is that neither side can win outright, so we have to support Ukraine as much as possible so that Russia cannot defeat it, so that Ukraine can push Russian troops out of as much of the occupied territory as possible,” he said.

Watch the full CNBC interview with Polish Finance Minister Andrzej Domański

As a member of NATO, Poland also buys itself some immunity from U.S. criticism because it spends the most money (as a percentage of gross domestic product) on defense.

NATO estimate Research shows that by 2024, Poland’s defense spending will account for 4.12% of GDP. The United States ranks third, second only to Estonia, with defense spending accounting for 3.38% of GDP.

Polish Finance Minister Andrzej Domanski told CNBC earlier on Wednesday that Poland’s relations with Washington are “very, very good and we are buying a lot of American military equipment, tanks, fighter jets. In fact, you name it, We will all buy it.”

“But of course as the EU we have to remain united in our relationship with the United States. Of course, the most important thing for the EU is to focus on getting Europe back competitive,” he added.

“I do believe that this is the best answer to possible tensions with the United States and we know how to do it and we will do it step by step. During Poland’s six-month presidency of the Council countries) EU), we will put competitiveness at the center of our discussions,” Domanski added.

Follow CNBC International Channel twitter and Facebook.





Source link

  • Related Posts

    France’s love of comics showcased at the popular Angoulême festival

    The French city of Angoulême hosts a popular comics festival every year. This year’s event, which will take place from January 29 to February 2, will be the 52nd edition.…

    CNN attempts to modernize its business and announces about 200 layoffs

    US President Joe Biden and former US President Donald Trump will hold the first presidential debate of 2024 on June 26, 2024 in Atlanta. John Novak | CNN | Reuters…

    Leave a Reply

    Your email address will not be published. Required fields are marked *