Beyond Uncle Sam? Trump's Nato rift fuels Canada's 10-nation global defence bank push
The proposal comes at a time when Europe is reassessing its strategic dependence on Washington. Donald Trump's repeated criticism of NATO allies, alongside growing uncertainty
The proposal comes at a time when Europe is reassessing its strategic dependence on Washington. Donald Trump's repeated criticism of NATO allies, alongside growing uncertainty over future US commitments to European security. Canada's defence bank aims to reshape allied security Europe moves closer as doubts over Washington grow War and Trump's NATO criticism sharpen the debate Canada is seeking to unveil a new multinational defence lender at next week's NATO summit in Turkey, in what could become one of the most significant efforts yet to reshape how allied nations fund their security without relying solely on the United States.According to Reuters, Ottawa hopes to announce around 10 founding members for the proposed Defence, Security and Resilience Bank (DSRB), a new institution designed to raise as much as £100 billion ($133 billion) in low-cost financing for defence and resilience projects. The initiative forms part of Canadian Prime Minister Mark Carney's broader call for an alliance of "middle powers" as the traditional US-led global order comes under increasing strain.The proposal comes at a time when Europe is reassessing its strategic dependence on Washington.
Donald Trump's repeated criticism of NATO allies, alongside growing uncertainty over future US commitments to European security.Reuters reported that Canada's chief negotiator for the project, Isabelle Hudon, said the government is working towards announcing the founding members during the NATO summit, although final agreements over capital commitments are still being negotiated."The NATO summit" has become the project's target deadline, Hudon told Reuters, adding that the initial membership is expected to consist largely of European countries alongside Canada. Membership would remain open to additional nations after launch.The proposed bank would provide affordable financing for defence manufacturing, military infrastructure and resilience projects across allied nations. While South Korea has held what Hudon described as productive discussions over joining, no other G7 country is currently close to signing up. The bank's long-term credibility will also depend on attracting enough financially strong members to secure a coveted triple-A credit rating.The initiative reflects a broader shift underway in Europe as governments increasingly coordinate on defence and foreign policy amid uncertainty surrounding the United States.European leaders, once divided over Italian Prime Minister Giorgia Meloni because of her hard-right political roots, have recently rallied behind her following public attacks from Trump.
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