Moody's, debt alarm if NATO arms race - News. ANSA.
With 2% military spending on the Peninsula's GDP at 147% debt-GDP (ANSA) The arms race in NATO countries triggered by threats from Moscow "will complicate debt reduction efforts and could weaken their credit profile" exacerbating social conflict. "Spain and Italy are particularly vulnerable", having "the largest gaps in defense spending (compared to the NATO target of 2% of GDP, ed.)"