Is Financial Crisis in Europe a Security Threat?

Assistant Secretary Philip H. Gordon today said question of the economic crisis obviously looms large for Europe and the United States during an interview with Bernardas Gailius of LTV.

“There’s no doubt that the United States is reducing its defense budget, as are a number of European countries. That is simply a reality. “ -Mr Gordon

He noted that the U.S. government is going to have to find ways to spend more efficiently.

“One of the things that means is we need to do it more collectively within NATO.” -Mr. Gordon

The NATO Secretary General, the U.S. President, and the Prime Ministers of Latvia, Slovenia, Lithuania, Slovakia, Romania, Bulgaria, and Estonia after a ceremony welcoming them into NATO on 29 March 2004 at the Istanbul Summit.

He stressed that the United States has a profound interest in Europe’s economic success. He said it is U.S. biggest trade and investment partner.

“We’re obviously following the economic crisis in Europe closely, but we are confident that European leaders understand the urgency of the situation and have the means to deal with it.” -Mr. Gordon

He noted that the United States will be hosting the next NATO Summit in Chicago in May. He said one of U.S. big priorities for that summit are initiatives that the NATO Secretary General calls smart defense which will allow to pool resources and spend scarce defense dollars and euros more efficiently.

“So we have some programs in mind to do that. One of them, by the way, supports the Baltic air policing which is a good example of how some allies with certain capabilities can help others who may not have the same capabilities.” -Mr. Gordon

The North Atlantic Treaty Organization or NATO is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949. The NATO headquarters are in Brussels, Belgium. The organization constitutes a system of collective defence whereby its member states agree to mutual defense in response to an attack by any external party.

Mina Fabulous
Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn't preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.