European leaders held an emergency meeting in Paris on Monday (February 17) to discuss increasing defense spending to strengthen the continent's defense capabilities. However, there are clear differences of opinion among countries regarding the deployment of peacekeeping forces to Ukraine. The meeting was convened by French President Macron against the backdrop of bilateral peace talks between US President Trump and Russia, with European allies and Ukraine excluded.

Background and Differences of the Meeting

The recent actions of the Trump administration on defense issues in Ukraine, Russia, and Europe have caught European officials off guard. The United States' decision to negotiate separately with Russia has forced European countries to realize the need to take more measures to ensure Ukraine's security. British Prime Minister Stamer expressed willingness to send peacekeeping forces to Ukraine, but emphasized that the United States must make a security commitment. However, dispatching peacekeeping forces not only increases the risk of direct confrontation with Russia, but also puts more strain on European military forces.

Financial and Military Challenges

The European arsenal has been depleted due to the supply to Ukraine and decades of relatively peaceful environment, and the financial situation of some European countries is poor, making it difficult to pay for the increased military expenditures. German Chancellor Scholz stated that a peace agreement cannot be reached without Ukraine's consent, but he supports defense spending exceeding 2% of GDP. Italian Prime Minister Meloni opposes the peacekeeping plan, while Danish Prime Minister Fr é d é ric Sen is open to discussing the deployment of troops.

US Russia Meeting and European Position

Senior officials from the United States and Russia are scheduled to meet in Saudi Arabia on Tuesday. Russia has ruled out the possibility of ceding its territory, and Ukrainian President Zelensky does not acknowledge the US Russia talks taking place without his participation. The differences among European countries at the Paris Conference reflect their different positions on the Ukraine issue, with Scholz and Polish Prime Minister Tusk calling for the relaxation of the EU's strict fiscal regulations and allowing countries to increase defense spending.

The impact on the Euro

The decision to increase defense spending in Europe will have a profound impact on the euro. Firstly, increased military spending may lead to an expansion of fiscal deficits in European countries, thereby affecting the stability of the euro. Secondly, the depletion of Europe's arsenal and financial pressure may weaken the economic recovery capacity of the eurozone. Finally, the differences in Europe over the Ukraine issue may affect the unity within the EU and further exacerbate the uncertainty of the euro.

conclusion

The European emergency meeting revealed the differences among countries on defense spending and the Ukraine issue, which not only affect the security landscape of Europe but also pose a challenge to the future of the euro. As the US Russia meeting progresses, Europe must find a way to balance internal opinions and external pressures to ensure the stability and security of the eurozone.