German and British think tanks urged decision-makers to set up a "NATO bank" to "Trump-proof" the alliance's military spending in a report published on Oct. 9 and seen by The Guardian.
Allies need to prepare because if Donald Trump wins next month’s presidential election, he could swiftly reduce U.S. defense spending in Europe, push for a peace deal in Ukraine that cedes parts of its territory to Russia, and potentially withdraw from NATO altogether, the joint report The New Diplomacy Project and the German Friedrich Ebert Foundation was quoted as saying by The Guardian.
To reduce the potential impact of a second Trump presidency, NATO countries should back the establishment of a multilateral lending institution, effectively a NATO bank, the report suggests.
This could "save nations millions on essential equipment purchases, offer low interest rates on loans to alliance members, and introduce a new line of financing with longer repayment timeframes," the report said.
Recently, U.S. Republican presidential candidate Trump criticized Washington's involvement in the war in Ukraine, saying the country is "stuck" and will only be able to "get out" if he wins the election.
Earlier this September, during a presidential debate with Kamala Harris, Trump refused to say that he wants Ukraine to win the war.
The report highlights additional threats a Trump victory could bring, including a collapse in diplomatic communication between the U.S. and Europe, as well as the withdrawal of U.S. troops and military assets from the continent.
Asami Terajima
(Updated: )
