Ravi Agrawal
No matter how the war in Ukraine ends, one thing is clear: Europe is entering a period of massive investment in defense infrastructure. Facing the reality that they will have to be responsible for their own defense, 10 different European countries increased their defense budgets by 20 percent in 2024 alone. But how will the money get used? Pessimists believe that funds will go toward salaries and procurements without any real boost to European economies, while optimists argue for the possibility of investment-led growth and job creation.
Which will it be? On the latest episode of FP Live, I spoke with Jared Cohen, the president of global affairs at Goldman Sachs and co-head of the Goldman Sachs Global Institute. The discussion is part of a partnership between FP and the institute. Watch the full discussion in video at the top of this page, or in audio by looking for the FP Live podcast. What follows here is a lightly edited transcript.
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