Germany to Raise Defense Spending Above 2% of GDP

“Germany will boost military spending above 2% of GDP and create a strategic natural-gas reserve, Chancellor Olaf Scholz said Sunday, marking a significant shift in the country’s defense and energy policies in reaction to Russia’s war in Ukraine,” the Wall Street Journal reports.

“The measures, all of which had long been resisted by successive governments and will now be reflected in this year’s budget, underline how profoundly Russia’s attack on Ukraine is upending European politics after almost eight decades of nearly uninterrupted peace on the continent.”