Spanish Fly: Addendum

The NATO leaders summit in The Hague concluded on June 25, 2025, with the primary focus on adopting new NATO spending targets, as insisted upon by US President Donald Trump. The organization agreed to raise its members' GDP defense requirement from 2% to 5%, with 3.5% allocated to hard defense spending and 1.5% for defense-related expenditures. However, Spain, which consistently ranks low in defense spending within NATO, did not agree to the new target. The agreement extends until 2035, with a review scheduled for 2030. The 2030 check-in could potentially lead to changes in requirements, with President Trump and Rutte no longer in power. The 5% target without a compliance mechanism may not prove more successful, especially once "daddy" exits the world stage. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thomasleckwold.substack.com/subscribe