WSJ 14 (Wall Street Journal, Dow Jones Institutional News; New York, “EU Lacks Credible Deterrence Capability of Its Own—Market Talk”)//vl
2238 GMT - The U.K. government argues that the greatest risk to European security is the failure to defend the principle of national sovereignty. One reason why the situation in Ukraine has escalated out of control is that the EU struggles to exert pressure, according to The Wall Street Journal's Europe File column. EU foreign-policy decisions require a unanimity among the 28 member states that is hard to achieve, given competing priorities. At the same time, the EU's defense capabilities are weak. Europe spends only 1.4% of gross domestic product on defense, the lowest of any region in the world, and a lack of coordination among member states further reduces its effectiveness. The result is that the EU lacks credible deterrence capability of its own. (simon.nixon@wsj.com)
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