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NATO leaders predict era of 2% defense spending 'probably history' as Trump reportedly floats higher target

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Four NATO leaders and a representative from the European Union said they agreed it was time to invest more in defense spending as Russia remains a chief security threat in Europe .

Greek Prime Minister Kyriakos Mitsotakis argued the era of spending 2% of a nation’s GDP on defense was "probably history" But he, along with the other four leaders in attendance at the North-South Summit in Lapland , Finland , fell short of saying what that figure should look like.

The leaders were questioned about a recent report by the Financial Times that said President-elect Donald Trump intends to push NATO to increase its defense spending requirement from 2% to 5% .