The world is changing and we are facing new and serious challenges, the Secretary General of NATO Jens Stoltenberg said during his keynote speech in Washington as the Alliance is holding its 75th summit. Stoltenberg says the allies should increase defence spending and if 2% of GDP has been the ‘ceiling’ so far, now it should become the ‘floor’.

“We celebrate 75 years of the most successful alliance in history and will make important decisions for the future. As you know, NATO’s main purpose is to prevent wars and preserve peace by providing credible deterrence everyday, to ensure that there’s no room for miscalculation in any capital about our ability to defend all our allies. All NATO allies will sign a new defence industrial pledge, which will help to make our industry stronger and more innovative. First element is increasing defence spending. 2% is no longes the ceiling, it’s rather the floor. Now, as the world is changing, we face serious security challenges. That is why we need to invest more in defence and work more closely with the defence industry“, - Jens Stoltenberg said.