French President Macron announces 6.5 billion euros in extra military spending in next two years
He laid out the spending plans in a sweeping speech calling for intensified efforts to protect Europe. He said France will aim to spend 64 billion euros in annual defense spending in 2027, the last year of his second term.
″To be free in this world we must be feared. To be feared we must be powerful,″ he said.
″Since 1945, freedom has never been so threatened, and never so seriously.″
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
an hour ago
- Wall Street Journal
How China's Military Is Flexing Its Power in the Pacific
HONG KONG—China's military is extending its reach deeper into the Pacific, sending ships and aircraft into new territory in a push that has spurred the U.S. to strengthen defenses and alliances in the region. Beijing has long resented what it sees as interference by the U.S. and its allies in its traditional sphere of influence in the Asia-Pacific region. Now, it is asserting itself more aggressively in its backyard while also pushing well beyond longstanding geographical limits of its military.
Yahoo
an hour ago
- Yahoo
Asian markets mostly rise on lingering trade deal optimism
Most Asian markets rose Monday as investors digested Donald Trump's latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 percent tariffs. The US president's outburst came after a series of announcements last week including warnings of 50 percent levies on copper and Brazilian goods, 35 percent on Canadian goods, and a possible 200 percent charge on pharmaceuticals. While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House's August 1 deadline. In announcing his latest measures on Saturday, Trump cited Mexico's role in illicit drugs flowing into the United States and a trade imbalance with the European Union. The move threw months of painstaking talks with Brussels into disarray. European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord -- and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill. EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if talks fail. French President Emmanuel Macron backed efforts to reach an agreement that "reflects the respect that trade partners such as the European Union and the United States owe each other". But he urged the bloc to "step up the preparation of credible countermeasures" if the two sides fail to reach an agreement. Analysts also pointed out that the levies against Mexico and Canada come even after Trump agreed a trade deal with the two during his first administration. Still, Asian investors brushed off Friday's losses in New York and Europe, remaining hopeful that governments will strike deals with Washington and avoid the worst of the tariffs. Hong Kong, Shanghai, Sydney, Seoul, Singapore, Manila and Jakarta all rose, with Tokyo, Wellington and Taipei edging down. Bitcoin hit a new record high of $119,490. "It is hard to say whether the muted market response over the week is best characterised by resilience or complacency," said National Australia Bank's Taylor Nugent. "But it is difficult to price the array of headlines purportedly defining where tariffs will sit from 1 August when negotiations are ongoing." Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday "I hope he quits", and adding "He should quit". Reports also said the president's allies were targeting the Fed chief over his handling of an expensive renovation at the bank's headquarters, with some suggesting they were building a case to have him removed over it. However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging. - Key figures at around 0230 GMT - Tokyo - Nikkei 225: DOWN 0.3 percent at 39,469.72 (break) Hong Kong - Hang Seng Index: UP 0.1 percent at 24,174.34 Shanghai - Composite: UP 0.4 percent at 3,524.93 Euro/dollar: UP at $1.1693 from $1.1690 on Thursday Pound/dollar: DOWN at $1.3496 from $1.3497 Dollar/yen: DOWN at 147.01 yen from 147.38 yen Euro/pound: UP at 86.64 pence from 86.59 pence West Texas Intermediate: UP 0.1 percent at $68.52 per barrel Brent North Sea Crude: UP 0.1 percent at $70.43 per barrel New York - Dow: DOWN 0.6 percent at 44,371.51 (close) London - FTSE 100: DOWN 0.4 percent at 8,941.12 (close) dan/tym Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Canadian warship departs for NATO mission overseas
A Canadian warship carrying some 250 military members will be making its way to European waters for a mission with NATO allies. It's the first time HMCS St. John's will be in the region since the war in Ukraine began. And as Heidi Petracek reports, the trip is also taking place against the backdrop of the federal government's promise to meet NATO spending targets.
