Sunday, August 23, 2026

They got security for free. Never said "Thanks"!-----U.S. retreat from global order ‘eroding’ European competitiveness, central bank boss warns

This economic growth, Lagarde told an audience, rested on three pillars: expanding global trade, manufacturing supported by access to cheap energy, and “a stable, rules-based global order, underpinned by a U.S. security umbrella.” Chloe Taylor@ChloeTaylor141
All three of those pillars are weakening today, Lagarde said...
“Today, that global order is under pressure. 
Geopolitical tensions are bringing critical dependencies and chokepoints into sharper focus, while Europe faces growing security threats on its doorstep.”
  • Trump has long rebuked America’s European allies for not spending enough on defense, with his administration issuing threats to withdraw from the military alliance and even bring NATO territory under Washington’s control by force. 
  • Meanwhile, Russian aircraft have increasingly encroached on European airspace, and the U.S.-Iran war has weighed on the continent’s economy and raised new security threats for the region...

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