European leaders are preparing for a significant increase in defense spending as NATO allies face mounting pressure to strengthen their military capabilities. Greek Prime Minister Kyriakos Mitsotakis confirmed that the current 2 percent GDP defense spending target will rise, though the exact figure is yet to be determined.
“We Will Need to Spend More”: Mitsotakis’ Warning
Speaking after an EU summit in Saariselkä, Finland, Mitsotakis emphasized the growing consensus among NATO allies on the need to boost defense budgets.
“We know we will need to spend more than 2 percent,” Mitsotakis said. “It will become clear, once we interact with the new [U.S.] president, what is the figure that we will agree on within NATO.”
Reports indicate that U.S. President-elect Donald Trump, set to take office in January, has floated an ambitious target of 5 percent GDP for NATO members, more than double the current requirement. European leaders have yet to agree on a specific figure, with Mitsotakis advocating for a balanced approach that accounts for national considerations and broader European cooperation.
Pressure Builds on NATO Allies
The push for increased defense spending comes amid heightened security concerns, particularly due to Russia’s ongoing invasion of Ukraine and President Vladimir Putin’s threats against nations supporting Kyiv. NATO Secretary-General Mark Rutte recently underscored the urgency, stating that alliance members must invest “much more” than the current 2 percent GDP target.
A June NATO report revealed that 23 of the alliance’s 32 members are now meeting the 2 percent benchmark—a record high. However, the looming challenge is how to equitably distribute the financial burden of enhanced military commitments.
European Leaders Call for Collective Action
The North-South Summit, convened by Finnish Prime Minister Petteri Orpo, gathered key European leaders, including Italian PM Giorgia Meloni, Swedish PM Ulf Kristersson, and EU foreign policy chief Kaja Kallas, to discuss security, defense, and migration.
- Kaja Kallas stated:“Europe needs to do more to defend itself and prevent war. Next year, we will propose ideas at the EU level for more defense cooperation, stronger capabilities, and funding.”
- Ulf Kristersson echoed the sentiment, noting that Europe must take on a larger role in its own defense while declining to speculate on a final spending figure:“There’s a lot of rumors going on.”
Balancing National and European Defense Priorities
Mitsotakis stressed the need for flexibility in defense funding, advocating for smarter allocation of resources at both national and EU levels:
“I have advocated greater flexibility, within the new budgetary rules, in how we deal with defense spending.”
While the EU aims to bolster cooperative defense projects, such as joint procurement and shared military capabilities, leaders are keen to ensure that increased spending aligns with broader European integration goals. Mitsotakis noted that convincing the United States of Europe’s commitment to its own security is a critical component of maintaining a strong transatlantic alliance.
What’s Next?
The final figure for NATO’s revised defense spending target will likely be decided in 2024, as leaders engage in negotiations and consult with the incoming U.S. administration. The proposed increase underscores the escalating importance of military readiness in a volatile geopolitical landscape.
As Europe braces for heightened military commitments, the challenge remains balancing fiscal responsibility with the urgent need to counter emerging threats and support collective security efforts.