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Why not amend the Commission guidelines / rules to increase the threshold from 1.5% to 3% of GDP spend on extra defence spending so that no country faces penalties? Is that very difficult to do?
There are multiple factors:
1. There are constraints on how much many advanced countries like France, Italy, etc., can borrow because they already have elevated debt levels.
2. A debt-to-GDP limit of 60% is baked into the foundational laws of Europe.
Why not amend the Commission guidelines / rules to increase the threshold from 1.5% to 3% of GDP spend on extra defence spending so that no country faces penalties? Is that very difficult to do?
There are multiple factors:
1. There are constraints on how much many advanced countries like France, Italy, etc., can borrow because they already have elevated debt levels.
2. A debt-to-GDP limit of 60% is baked into the foundational laws of Europe.