The writers are the prime ministers of Canada and Luxembourg
The essence of deterrence is credibility. Since Russia’s unlawful invasion of Ukraine, Nato allies have come a long way in strengthening their military capabilities. But it is not enough. Credible deterrence needs more: it needs to be backed by financial and economic power.
Our ability to mobilise capital must be just as reliable as our armed forces. The answer is a bold multilateral solution: the creation of the Defence, Security and Resilience Bank (DSRB).
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