Sánchez torpedoes Nato unity on eve of crucial summit

In light of a recent US bombardment of Iran’s nuclear sites, the upcoming NATO summit in The Hague presents an opportunity for rebuilding trust within the alliance, despite Donald Trump's unilateral actions and past ambivalence towards mutual defense commitments. European leaders, while agreeing to increase military spending and develop new defense plans, face challenges in ensuring a coordinated transition as US priorities shift, raising concerns about the future of NATO's collective security. Need More Context?...

Canada will sign a defense partnership with the EU to enhance security cooperation in response to U.S. President Trump's criticism of NATO allies' military spending. The agreement will allow Canada to join a €150 billion EU fund for joint arms procurement and includes collaboration on crisis management and support for Ukraine, amid ongoing trade tensions and increased defense spending commitments from Canada. Need More Context? 🔎

Germany's defense minister, Boris Pistorius, plans to initially implement a voluntary enlistment model to boost military recruitment, aiming to significantly increase reserve forces in response to threats from Russia. However, he is prepared to reinstate conscription if voluntary numbers fall short, as Germany seeks to enhance its military capabilities amid rising security concerns in Europe. Need More Context? 🔎

Belgium's migration minister, Anneleen Van Bossuyt, advocates for the EU to leverage trade and visa policies to compel less developed countries to accept returned migrants, marking a shift from Brussels' traditional separation of trade and immigration. This approach aligns with rising far-right sentiments in Europe and echoes tactics used by the Trump administration, as the EU confronts increasing asylum applications and seeks to enforce stricter immigration controls. Need More Context? 🔎

Prime Minister Pedro Sánchez announced a deal with Nato allowing Spain to opt out of a requirement to raise its defense spending to 5% of GDP, contrary to US President Trump's demands. This decision, made just before a crucial Nato summit, ensures Spain will maintain its commitment at 2.1% of GDP, while facing scrutiny amid corruption allegations within his government. Need More Context? 🔎

The Federal Reserve's preferred inflation indicator is expected to show a slight rise in price pressures for May, influenced by tariffs, with the personal consumption expenditures index forecasted to increase to 2.3% year-over-year. Meanwhile, Eurozone and UK economic data is being closely monitored, with expectations of modest improvements in PMIs amid ongoing trade uncertainties and inflationary pressures. Need More Context? 🔎