DAVOS: Europe Must Pool Military Resources, Spain's Economy Minister Says -- Market Talk

Dow Jones01-22

0935 GMT - Europe must pool its military resources to make the best use of its growing defense budgets, Spain's Economy Minister Carlos Cuerpo tells CNBC in an interview on the sidelines of the World Economic Forum in Davos, Switzerland. He was asked whether Spain would increase its defense spending to 5% as agreed by the North Atlantic Treaty Organization despite the Spanish government's reluctance. In response, Cuerpo says that the specific percentage allocated by each country is a "sovereign decision", adding that Spain "will do its utmost to live up to its commitments within NATO capability reinforcement". (cristina.gallardo@wsj.com)

(END) Dow Jones Newswires

January 22, 2026 04:35 ET (09:35 GMT)

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In response, Cuerpo says that the specific percentage allocated by each country is a \"sovereign decision\", adding that Spain \"will do its utmost to live up to its commitments within NATO capability reinforcement\". 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