The Article 5 guarantee has always been a political instrument as much as a military one. Remove the political will behind it and the military architecture starts to look very different. The eastern flank — Poland, the Baltic states, Romania, and now Finland and Sweden — has been the most serious part of NATO since 2014. These countries have spent, planned, and positioned as … [Read more...] about What NATO’s Eastern Flank Looks Like Without U.S. Guarantees
europe
Why Europe’s Rearmament Push May Already Be Too Late
Europe is spending money it should have spent a decade ago, on timelines that assume a threat environment that has already arrived. The rearmament announcements coming out of Berlin, Paris, Warsaw, and Brussels since 2022 are real. The commitments are larger than anything seen since the Cold War. Defense budgets are moving, procurement contracts are being signed, and the … [Read more...] about Why Europe’s Rearmament Push May Already Be Too Late
Fatal miscalculation of Liz Truss
Historical context: This October 2022 post refers to the market reaction to Liz Truss's fiscal proposals. The central problem was a loss of investor confidence in how large tax reductions would be financed during a period of high inflation and rising interest rates. UK government borrowing costs surged, pension funds faced pressure from leveraged liability-driven investment … [Read more...] about Fatal miscalculation of Liz Truss
Just when you thought that Borrell’s trip to Russia could not get any worse
The bigger question arising from Borrell’s disaster in Moscow today is if the European Commission that claims to have geopolitical ambitions has any foreign policy.After Borrell’s debacle in Moscow & the EU’s vaccine disaster the EU needs to get serious very fast or...? https://t.co/TrVKz5ceIe— Anders Åslund (@anders_aslund) February 6, 2021 So, Borrell’s Moscow … [Read more...] about Just when you thought that Borrell’s trip to Russia could not get any worse