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European Union nations have developed a reputation for underfunding their militaries, particularly within NATO; the concern intensified during Donald Trump’s first presidency, when he repeatedly urged alliance members to increase defense spending. Despite such a perception, Finbold research found that the EU has rapidly increased its total military spending over the last ten years. Between 2014 and 2024, EU nations more than doubled military spending, rising from €147 billion (~$154.6 billion) to €326 billion (~$342.8 billion) Over the last decade, the European Union raised its defence expenditure by 121.77%, and the share of its gross domestic product (GDP) benefitting the armed forces rose from 1.3% to 1.9%, according to the data Finbold retrieved from the European Council. Within the same timeframe, the US military budget increased by approximately 39%, China’s by about 75%, and Russia’s by an estimated 102%. Why the EU has been increasing its defense spending The comparison with Russia’s expenditure increase is arguably especially important as the ‘little green men’ incident of 2014, the special forces operation that led to Crimea being occupied and joining the Federation in a controversial referendum, was a major catalyst for the EU’s military spending. Before 2014, EU defense spending was in decline, largely due to budget cuts following the 2008 financial crisis. Between 2008 and 2014, member nations reduced military expenditures by 7.55% from €159 billion (~$167.21 billion)—1.5% of GDP—to €147 (~$154.59 billion)—1.3%. Interestingly, the biggest one-year increase ahead of the economic crisis might also have been linked to Russia, as it occurred between 2007 and 2008.  The overall deterioration in relations between the collective West and the Russian Federation is often linked to President Vladimir Putin’s infamous speech at the 2007 Munich Security Conference. Despite the relatively long history of the link between the EU’s military expenditures and the activity…

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Filed under: News - @ March 4, 2025 12:24 pm