Wolfgang Munchau

“Only three weeks into the US‑Iran war, European interest rates have risen and there are reports of gas shortages.”

“For example, Germany made itself dependent on Russia for its gas supplies for the two decades until Russia invaded Ukraine in 2022.”

“When Europe spends on average 2% of its GDP on defence, and the US spends 3.5%, this does not even begin to tell you what’s really going on.”