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MNI US Macro Weekly: Politics To The Fore
Biden: There Is "Overwhelming Support" For Ukraine And NATO In Congress
President Biden, speaking alongside Finnish President Sauli Niinist at the US-Nordic Leaders Summit in Helsinki, has told press that Ukraine's long-term security is not dependent on membership in NATO. Biden: "We made clear to President Zelensky that we are not waiting for NATO membership to be finalised to commit to the long-term security of Ukraine."
- Biden responded forcefully to a questions asking if the US could guarantee support for Nordic NATO members in the face of Republican opposition domestically: "I absolutely guarantee it," stating there is "overwhelming support" for NATO amongst the American people and in Congress, "notwithstanding extreme elements in one party," Biden adds, "no one can guarantee the future but this is the best bet anyone can make."
- Analysts have pointed out that plans to guarantee Ukraine's long-term security, outlined at the NATO summit in Vilnius, will hinge upon Congress authorising significantly more spending. This is not assured as House Republicans have persistently stonewalled the prospect of supplemental defence spending and a potential Trump administration is likely to slash NATO, and Ukraine spending, should Trump take the White House in 2024.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.