Professor Fallico on position of London, Paris, Brussels and whether anti-American front possible in Europe
Speaking at the opening of the 17th Verona Eurasian Economic Forum in Ras Al Khaimah (UAE), Professor Antonio Fallico, the President of Conoscere Eurasia Association, noted that today London, Paris and Brussels are thinking about how to use various actions to escalate the conflict to force the new American administration to make decisions that it would like to avoid
“To take a shorter-term view of today’s environment, I would go back to the global implications of the results of the recent US presidential election. One can get bogged down in speculation about the near future, even with an idea of President-elect Trump’s approach to various issues. Much has been written about how his election has caused panic in some European capitals and in the EU. The reasons are many, including Trump’s desire to end the conflict in Ukraine. Will an anti-American front become possible in Europe? The question may seem ridiculous, but London, Paris and Brussels are thinking about how to use various actions to escalate the conflict to force the new American administration to make decisions it would like to avoid. In particular, the European Commission is preparing to withdraw 392bn Euros from the Cohesion Fund – designed to overcome inequalities in the development of different zones of the European Union – to spend them on the development of the European military industry and military aid to Ukraine,” Mr. Fallico said.
According to him, one government coalition in Germany has already collapsed due to a dispute over whether the country’s financial resources should go to the Ukrainian military or German pensioners. Anyway, the militarisation of the production sector is a new trend that is beginning to take hold in the development of the economy.
There are fears that Trump will resume pressure on NATO allies to allocate 3 percent of GDP to military spending, threatening to leave the alliance if the US partners disobey. The Italian expert believes some NATO members are in a hurry to comply and loudly report it.
“But it is unlikely that the US will leave NATO. But what will the increase in military spending lead to? These funds will be used to buy more American weapons! As for the region where we are today, the Middle East, it also faces the unknown. Will peace return there, albeit with clenched teeth? Is normalisation possible, even partial? Will the dialogue continue between the main players in the region, who often dislike each other so much? In any case, it should be borne in mind that the UAE’s position is proving to be balanced and constructive. Uncertainty also reigns over the expectations of the global economy in the context of current and future changes across the ocean,” the Professor added.
