Trump Urges Europe to Up NATO Spending

July 10, 2018 Share Print 0

As President Donald Trump headed to Brussels to meet with the members of the world’s most powerful military alliance, NATO published its latest estimates on defense spending.

The NATO report estimates that only five out of the 29 nations will meet the spending standards that were agreed upon at the 2014 NATO summit in Wales.

The pledge called for all allies to stop cutting defense budgets, gradually increase spending, and aim to spend 2 percent of their GDP on defense by 2024.

Currently, the United States, Greece, Estonia, the United Kingdom and Latvia meet the 2 percent NATO guideline.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.