Moody’s: arms race, debt alarm in Italy
The geopolitical tensions triggered by Russia continue to have negative effects and the situation is not rosy in the near future either. This is written in black and white in a rating agency report Moody’s Accordingly, Italy and Spain are the two countries that are struggling with an enormous increase in debt.
Moody’s: Debt alarm in Italy with arms race
In detail in the basic scenario Italy’s debt in 2030 it would rise to 144% of GDP, but reach 147% when it reaches 2%.
The trigger was the arms race in the NATO countries triggered by threats from Moscow, which “could complicate efforts to reduce debts and weaken their creditworthiness,” exacerbating the social conflict.
“Spain and Italy are particularly vulnerable,” writes Moody’s, as they “have the largest defense spending deficits (compared to NATO’s target of 2% of GDP, editor’s note) and the lowest public support for further increases in defense spending show military expenditure”.
Putin: “NATO will not be attacked, but F-16 planes will be attacked”
Russian President Vladimir Putin rejected the idea Russia can attack NATO, But he warned that any F-16 fighter jets given to Ukraine by Western allies would be a legitimate target for Russian forces.
Europe is in full arms race, fearing Russian threats and Putin is testing the stability of NATO. In recent weeks, warnings have mounted from leaders of European countries, from Denmark to Germany to the Baltic countries, about major risks of war in the coming years, while concerns about Russia, currently in full swing, are increasing . “War Economy”.
European countries are signing new bilateral security agreements with Ukraine to address U.S. concerns at a time when Kiev is in trouble. There are agreements on commitments to supply weapons, ammunition, missiles and now aircraft, with Zelensky being promised around 60 F16s by the Europeans. Several specialized “coalitions” (for drones, artillery, etc.) are being formed with leading countries to coordinate military assistance. This includes EU members, but also the United Kingdom.
