• 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.”

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
EuropeMilitary
Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
By Kirsten Grieshaber, Emma Burrows, Aamer Madhani and The Associated PressMay 2, 2026
2 hours ago
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
PoliticsIran
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
By Aamer Madhani, Sarah El Deeb, Cara Anna and The Associated PressMay 2, 2026
2 hours ago
Iran juggles oil cuts and storage strain to resist U.S. blockade
EnergyIran
Iran juggles oil cuts and storage strain to resist U.S. blockade
By Anthony Di Paola, Ben Bartenstein, Patrick Sykes, Weilun Soon, Charles Gorrivan and BloombergMay 2, 2026
5 hours ago
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
AIChips
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
By Chris Welch, Mark Gurman and BloombergMay 2, 2026
5 hours ago
Unionized workers form alliance with rich tech giants on AI data centers, pushing back on local opposition and redrawing political lines
AIData centers
Unionized workers form alliance with rich tech giants on AI data centers, pushing back on local opposition and redrawing political lines
By Marc Levy and The Associated PressMay 2, 2026
5 hours ago
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
EconomyDebt
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
By Jason MaMay 2, 2026
8 hours ago

Most Popular

Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
2 days ago
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
Economy
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
By Jacqueline MunisMay 2, 2026
12 hours ago
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
1 day ago
Current price of oil as of May 1, 2026
Personal Finance
Current price of oil as of May 1, 2026
By Joseph HostetlerMay 1, 2026
2 days ago
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
Commentary
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
By Ed Smith-LewisMay 2, 2026
18 hours ago
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
Commentary
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
By Katica RoyMay 2, 2026
15 hours 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.