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12. Juli 2024

Fin­nish For­eign Minis­ter, Eli­na Valtonen.

Mrs. For­eign Minis­ter, what can Ukrai­ne learn from Finn­land as the newest NATO members?

Val­to­nen: Non corruption.

Mrs. For­eign Minis­ter, have the hybrid rus­si­an attacks on Fin­land increased?

Val­to­nen: Weeeeeeeeeeeell, it is important.

Mrs. For­eign Minis­ter, how will this war end?

Val­to­nen: Rus­sia will implo­de like in the cold war.

In other words, the soa­ring defen­se and social spen­ding in the [rus­si­an] bud­get will be lar­ge­ly finan­ced through the gra­du­al deva­lua­ti­on of the ruble, a pro­cess that is alrea­dy well under way. A mode­ra­te bud­get defi­cit may, inde­ed, help restrain inflation.

Defen­se spen­ding in 2024 will almost dou­ble com­pa­red to this year. While that is less than the 12–17 per­cent of GDP that the Soviet Uni­on was spen­ding on defen­se at the height of the Cold War, it is com­pa­ra­ble to U.S. mili­ta­ry expen­dit­u­re in the 1980s. [5-7% of GDP see world bank data: click]

src: click (carnegieendowment.org)

Mrs. For­eign Minis­ter, why should NATO eco­no­mies inte­gra­te more?

Val­to­nen: Well look at the others like Chi­na and rus­sia, It seems to me thats what we should do. Some­thing has to finan­ce what we spend on weapons!

Bloom­berg Mode­ra­tor: “So are you cal­ling for a free tra­de agree­ment wit­hin NATO?!”

Val­to­nen: “Well I know this sounds like, eh he he, … very biz­za­re at a time whe­re peop­le are --”

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Bloom­berg Mode­ra­tor “Put­ting up the wall!”

Val­to­nen: “Exact­ly!”

Val­to­nen: “Well, look at fin­land for examp­le! Now that we joi­ned NATO we bring in both Nokia and Erics­son! The most secure…”

Thank you for the inter­view Mrs. For­eign Minis­ter Eli­na Val­to­nen, you valu­able ehm mem­ber of the Nato alliance.

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