Does The United States Need Europe?
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Declining Trust and Structural Dependence – Relations between Europe and the United States are weakening, forcing Europe to reconsider its reliance on external security. Decades of defence underinvestment and dependence on the U.S. security umbrella mean Europe would struggle to fill capability gaps quickly. As a result, security and energy remain core areas of vulnerability where the asymmetry clearly favours the United States. Europe’s Limited but Strategic Leverage – Despite structural weaknesses, Europe holds influence in niche but critical sectors. The monopoly of EUV lithography machinery by ASML creates a strategic chokepoint in semiconductors and AI. However, weaponising these advantages would risk accelerating economic decoupling and harming Europe’s own stability. Financial and Economic Constraints – Proposals such as selling U.S. Treasuries are often overstated as leverage due to the depth and liquidity of the U.S. financial markets. Europe lacks a unified safe asset and
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