Greece, Finland Boost Defense Spending Amid Geopolitical Tensions

In response to ongoing geopolitical tensions, Greece plans to invest 25 billion euros in defense over the next 12 years, maintaining its defense spending at approximately 2.2% of GDP, which exceeds NATO's target. This increase is part of a broader European trend where countries are ramping up military expenditures due to threats from Russia. Similarly, Finland will raise its defense spending to at least 3% of GDP by 2029, with plans for significant military procurement to enhance its defense capabilities against a more aggressive Russia. Taiwan is also urged to increase its military budget to match the U.S. percentage of GDP to demonstrate its commitment to defense amid rising tensions with China. Overall, EU defense spending reached 2.7% of total government expenditures in 2023, reflecting a renewed focus on military preparedness across the continent.