A new lease of life for Nato

A few weeks ago, at the height of the crisis in Ukraine, representatives of some of the biggest defence contractors in the US were munching canapes on Capitol Hill at a fundraiser for a top Republican congressman and committee chairman. Russian president Vladimir Putin’s annexation of Crimea may have frightened Russia’s neighbours and generated widespread fears of a new cold war, but the mood at the fundraiser was, according to one attendee, “borderline euphoric”.

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