Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%BNB287.900.44%USDC1.000.01%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Germany’s Scholz talks up NATO spending pledge and the FCAS fighter deal

German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germany, November 10, 2023. REUTERS/Liesa Johannssen
German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germa... German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germany, November 10, 2023. REUTERS/Liesa Johannssen
German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germany, November 10, 2023. REUTERS/Liesa Johannssen
German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germa... German Chancellor Olaf Scholz speaks at a German Armed Forces Bundeswehr conference in Berlin, Germany, November 10, 2023. REUTERS/Liesa Johannssen

Listen to the article now

Germany’s Scholz talks up the NATO spending pledge and the FCAS fighter deal. On Friday, German Chancellor Olaf Scholz announced that even when a dedicated defense fund worth 100 billion euros ($106 billion) is depleted, his administration would modify its defense budget to guarantee the nation meets the NATO expenditure requirement of 2% of GDP.

Speaking the day after his government made a dramatic policy change to increase expenditure and modernize its troops in the wake of Russia’s invasion of Ukraine in 2022, Scholz said that the German military would become the “backbone” of European defense.

Scholz stated on reaching the NATO objective, “We will definitely solve it in such a way that the Bundeswehr (army) gets the resources it needs—even after the special fund expires.”

Scholz also cited the FCAS project, which aims to produce a combat jet in collaboration with France and Spain, as evidence of more robust European defense cooperation.

“In this sense, we have advanced the FCAS fighter aircraft project with France and Spain and will now also quickly advance the MGCS main battle tank project under German leadership with France,” he stated.

After a recent story in Britain’s The Times newspaper stated that Germany was considering walking out of the contract because of problems over design and funding, his reference to FCAS seemed to highlight Berlin’s commitment to the project.


Comment Template

You May Also Like

Business

In the wake of Walmart’s departure as a major stakeholder and a stagnating Chinese e-commerce market, JD.com must persuade investors of its importance. This...

Politics

  Joe Biden had other plans for his address. Under the current conditions, at least not this year. Tragedies and hardships have left their...

Economy

After a bank official was freed from captivity, activities at Libya’s central bank (CBL) were restored. Musaab Muslamm, chief of the bank’s information technology...

Technology

  Downing Street has stated that the ability to turn off electronic devices when not in use is crucial to productivity and has the...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok