Updated 1346 GMT (2146 HKT) July 11, 2018 (CNN)US President Donald Trump has arrived in Brussels with a clear message: NATO members must hike their defense spending and they must do it now. Trump has long called on other NATO members to spend at least 2% of their gross domestic product on defense, as the transatlantic alliance's own guidelines recommend. He has a point. The US spent more than 3.5% of its GDP on defense last year, and far more in previous years, while only three other member nations -- the UK, Greece and Estonia -- passed the 2% threshold last year, NATO data shows. Poland slipped in 2017 below the benchmark to 1.99%. "I think these countries have to step it up, not over a 10-year period, but they have to step it up immediately," Trump said in Brussels on Wednesday, on day one of the summit. NATO allies in 2014 agreed to try and reach their 2% target over a decade, by 2024, too long a time frame for Trump. He pointed specifically to Germany as a wealthy nation that … [Read more...] about Is the US NATO’s piggy bank? Here’s what to know
Gdp what does it mean
Europe 28 May 2018 Share this with Facebook Share this with Twitter Share this with Messenger Share this with Messenger Share this with Email Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link http://www.bbc.com/news/world-europe-44277888 Read more about sharing. These are external links and will open in a new window Close share panel Italy looks set to have an interim government before fresh elections, in a political crisis which pits Eurosceptic populists - winners of the March election - against pro-EU establishment politicians.President Sergio Mattarella's … [Read more...] about What is Italy’s political crisis all about?
Investors are bracing for further market jolts after Mahathir Mohamad’s surprise victory in Malaysia’s election.At 92 years old, Mahathir led a four-party coalition to end the six-decade rule of Najib Razak’s party. Investors had been betting on Najib retaining power, and Mahathir’s return to office 15 years after he stepped down as prime minister injects more uncertainty into financial markets and the economy at a time when emerging markets are under attack globally.What To Watch in MarketsMarkets are shut on Thursday and Friday after the government declared public holidays. One-month non-deliverable forwards imply the ringgit will be about 3 percent weaker when onshore markets reopen on Monday. The currency touched four-month low of 3.9507 on May 8 Stocks could drop 8 percent within three days: Affin Hwang Asset Management BhdConsumer sector stands out as major beneficiary as GST removal, fuel subsidy, minimum wage revision could boost … [Read more...] about What Mahathir’s Shock Malaysia Win Means for the Economy and Markets
Italian voters cast their ballots at a Rome polling station. Photo: AFP There have been a lot of firsts in the 2018 Italian election campaign, writes Italian politics professor James Newell. So what does this mean for the result of the vote, and what can we expect next? As one who has been a student of Italian politics for a number of years now, I am struck by the striking novelties of the election campaign that has just come to an end. For one thing, the parties’ policy platforms have had a much higher profile than in the past. Since one of the two largest parties was a communist party and therefore considered ineligible for government, and since the party furthest to the right – the neo-fascist Italian Social Movement – was likewise excluded, the only feasible governing coalitions were ones with the centre-placed Christian Democrats (DC) as their mainstay; so elections were largely about the relative strengths of the DC and its minor-party allies as the … [Read more...] about Analysis: What can we expect after the Italian election, and how did we get here?
Donald Trump's second year as President has begun with the US government closed down thanks to a stalemate in Washington. Thousands of federal employees have been told not to go to work as Democrats and Republicans blame one another for the crisis. It is the first time the US government has shut down when one party - in this case the Republicans - has had control of the Congress, Senate and the presidency. But what does it all mean, and what's it been caused by? Q. What does a shutdown mean? A. It means that many non-essential US government functions are suspended and many, but not all, federal employees are told to stay at home. Military operations as well as law enforcement and public safety officials, such as police and air traffic controllers, will carry on working, as will the postal service, which is self-funded. Elsewhere it’s more hit and miss. The Smithsonian museums and the National Zoo was closing on Monday while some national parks will remain open, at … [Read more...] about US government shutdown Q&A: What you need to know