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 objective of 2% of GDP, ed.) and lower levels of popular support for further increases in military spending". The alarm comes from the rating agency Moody's, according to which in the base scenario Italy's debt would rise to 144% of GDP in 2030, but would reach 147% if 2% was reached.
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