US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Eastern EU Russia Hawks Take Key Defence & Security Roles

EU COMMISSION
EM BulletFixed Income BulletsHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsPolitical Market News

While many of the high-profile economic portfolios within the incoming European Commission have gone to the centre-right European People's Party (EPP) political group, when it comes to portfolios relating to foreign policy, security, or defence the major weighting is not political but geographic.

  • The three notable roles in this policy space - High Representative for Foreign and Security Policy, Executive Vice-President for Tech Sovereignty, Security and Democracy, and Commissioner for Defence and Space have each gone to a representative of a country bordering Russia, with Kaja Kallas (Estonia, RE) taking the first portfolio, Henna Virkkunen (Finland, EPP) the second, and Andrius Kubilius (Lithuania, EPP) the third.
  • Given the increased EU focus on the defence sector and developing a united security policy focused on strategic autonomy, giving leadership roles to some of the most vocal Russia hawks in the Union comes as a clear statement of intent.
  • With the potential for the US to significantly wind down its military commitments in Europe in the event of a win for Republican candidate Donald Trump in the November election in appointing these individuals, there is clearly an effort by Commission President Ursula von der Leyen to push for greater EU joint action on defence.
  • These appointments stand in some contrast to NATO, which appointed former Dutch PM Mark Rutte over potential nominee Kallas, with the former Estonian PM seen as potentially too provocative towards Russia compared to consensus-builder Rutte.
236 words

To read the full story

Close

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.

While many of the high-profile economic portfolios within the incoming European Commission have gone to the centre-right European People's Party (EPP) political group, when it comes to portfolios relating to foreign policy, security, or defence the major weighting is not political but geographic.

  • The three notable roles in this policy space - High Representative for Foreign and Security Policy, Executive Vice-President for Tech Sovereignty, Security and Democracy, and Commissioner for Defence and Space have each gone to a representative of a country bordering Russia, with Kaja Kallas (Estonia, RE) taking the first portfolio, Henna Virkkunen (Finland, EPP) the second, and Andrius Kubilius (Lithuania, EPP) the third.
  • Given the increased EU focus on the defence sector and developing a united security policy focused on strategic autonomy, giving leadership roles to some of the most vocal Russia hawks in the Union comes as a clear statement of intent.
  • With the potential for the US to significantly wind down its military commitments in Europe in the event of a win for Republican candidate Donald Trump in the November election in appointing these individuals, there is clearly an effort by Commission President Ursula von der Leyen to push for greater EU joint action on defence.
  • These appointments stand in some contrast to NATO, which appointed former Dutch PM Mark Rutte over potential nominee Kallas, with the former Estonian PM seen as potentially too provocative towards Russia compared to consensus-builder Rutte.