Foreign Policy Live The Future of Europe’s Defense
Aug 15, 2025
Jared Cohen, President of Global Affairs at Goldman Sachs, dives into Europe's defense future amid substantial budget increases. He discusses the importance of reallocating funds effectively to strengthen the continent’s military capabilities. The conversation highlights the challenges posed by geopolitical tensions, especially after the Ukraine invasion. Cohen emphasizes balancing advanced technology with traditional defense needs and how climate change intersects with military spending, underlining the urgency for Europe to define its own defense identity.
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Europe's Wake-Up Call
- Europe underinvested in defense and can no longer rely on the U.S. security umbrella.
- That realization after Russia's invasion created the current rearmament inflection point.
Economic Decline Shapes Strategy
- The U.S. economy outgrew Europe drastically, reducing Europe's geopolitical weight.
- This long-term economic stagnation underpins Europe's need to rebuild defense and growth simultaneously.
Numbers Can Be Misleading
- Rising defense numbers look impressive but mask key questions about composition and effectiveness.
- Europe struggles with form and implementation even when it knows what needs doing.
