• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsMilitary

EU leaders see NATO defense spending goal rising from 2%

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
December 22, 2024, 11:19 AM ET
British soldiers from the NATO combat unit in Estonia on Dec. 17.
British soldiers from the NATO combat unit in Estonia on Dec. 17.Alexander Welscher—picture alliance via Getty Images

Greek Prime Minister Kyriakos Mitsotakis said the guideline for NATO countries to spend at least 2% of their economic output on defense is “probably history.”

Recommended Video

“We know that we will have to spend more than 2%,” Mitsotakis told reporters at a meeting in Finland’s far north on Sunday. The mini-summit, convened by Finnish Prime Minister Petteri Orpo, also included Italian Prime Minister Giorgia Meloni, Swedish Prime Minister Ulf Kristersson and European Union foreign policy chief Kaja Kallas.

Leaders were asked about a Financial Times report on Friday that Donald Trump’s staff told European officials the US president-elect wants to increase the North Atlantic Treaty Organization’s spending limit to 5%. They refused to be drawn on exact amounts.

“Let’s not put a figure on it,” the Greek premier said. His comments were echoed by his Swedish peer, who said: “There’s a lot of rumors going on.”

Pressure is mounting on Europe to step up defense outlays as Russia’s war in Ukraine rages for a third year and as Trump prepares to assume power on Jan. 20. The president-elect has spoken forcefully about European allies needing to comply with NATO’s defense pledge. Twenty-three of the group’s 32 members are set to do so this year.

“Fair burden-sharing should be at the center of every alliance,” Mitsotakis said. “It will become clear once we interact with the new president what is the figure that we will agree on in NATO.”

Italy’s Meloni urged patience.

“I would wait to understand exactly what is the real will of the new president of the US,” she said. “On NATO, we all know and understand that we have to do more. A lot of what we can do is up to the tools that we are able to put on the table.”

The purpose of the Finnish gathering was to foster freer dialog on common security challenges facing the two northern and two southern European countries, including “instrumentalized” migration, Orpo said. The five leaders lauded open discussions and rejected a north-south divide in the EU as a relic of the past, saying the economic divergence that once underpinned the split no longer exists. 

Finland’s 1,300-kilometer (800-mile) border with Russia has remained closed for more than a year, with officials in Helsinki wary of a potential push of immigrants by Kremlin across the demarcation if checkpoints were reopened. Meanwhile, nations on the EU’s southern flank are contending with a continual flow of migrants from Africa and the Middle East.

“We need to sit down together — we need to understand each other better,” Orpo said. “Geographically, we are on the front lines in different ways.”

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Author
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

placeholder alt text
North America
'I meant what I said in Davos': Carney says he really is planning a Canada split with the U.S. along with 12 new trade deals
By Rob Gillies and The Associated PressJanuary 28, 2026
2 days ago
placeholder alt text
Politics
The American taxpayer spent nearly half a billion dollars deploying federal troops to U.S. cities in 2025, CBO finds
By Nick LichtenbergJanuary 28, 2026
2 days ago
placeholder alt text
C-Suite
Jeff Bezos capped his Amazon salary at $80,000: ‘How could I possibly need more incentive?’
By Sydney LakeJanuary 28, 2026
2 days ago
placeholder alt text
C-Suite
Fortune 500 CEOs are no longer giving employees an A for effort. Now they want proof of impact
By Claire ZillmanJanuary 28, 2026
3 days ago
placeholder alt text
Investing
Jerome Powell got a direct question about the U.S. ‘losing credibility’ and the soaring price of gold and silver. He punted
By Eva RoytburgJanuary 29, 2026
1 day ago
placeholder alt text
Personal Finance
Current price of silver as of Thursday, January 29, 2026
By Joseph HostetlerJanuary 29, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Politics

Donald Trump with a frown.
Politicsmining
3 big hurdles undermine Trump’s plan to extract Greenland’s mineral wealth—and America’s fraying relationship with Europe is one of them
By Tristan BoveJanuary 30, 2026
16 minutes ago
ExxonMobil CEO Darren Woods, far right, listens as U.S. President Donald Trump,left, speaks during a meeting with oil company executives in the East Room of the White House on Jan. 9. President Trump is aiming to convince oil executives to support his plans in Venezuela, a country whose energy resources he says he expects to control for years to come. US forces seized Venezuelan president Nicolas Maduro in a sweeping military operation on January 3, with Trump making no secret that control of Venezuela's oil was at the heart of his actions.
EnergyBig Oil
Exxon and Chevron decline new spending in Venezuela while taking a wait-and-see approach for the years ahead
By Jordan BlumJanuary 30, 2026
30 minutes ago
CryptoBitcoin
Bitcoin’s freefall approaches $80,000 as precious metals also tank
By Ben WeissJanuary 30, 2026
2 hours ago
EconomyFederal Reserve
Right before Trump named Warsh to lead the Fed, Powell seemed to respond to some of his biggest complaints about the central bank
By Jason MaJanuary 30, 2026
3 hours ago
US President Donald Trump meets with NATO's Secretary General Mark Rutte on the sidelines of Davos.
Asiageopolitics
Trump’s Greenland play comes with Russia and China running circles around the US in the Arctic as expert sees ‘big game of catch-up’
By Tristan BoveJanuary 30, 2026
3 hours ago
Kevin Warsh, governor of the U.S. Federal Reserve, smiles during the New York Association for Business Economists luncheon in New York, U.S., on Wednesday, Nov. 7, 2007.
BankingFederal Reserve
Another ‘central casting’ central banker: Trump’s pick of Kevin Warsh fits a well-established pattern
By Eva RoytburgJanuary 30, 2026
3 hours ago