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We examine NATO’s reasons and objectives of increasing defence spending to 5% of GDP by 2035, and to what extent it is reasonable to expect the European Union to increase it. 

Although around 80% of Spanish exports to the United States are concentrated in five autonomous communities, no region is facing significant systemic risks. 

Generally speaking, when we use the word uncertainty we are referring to a lack of knowledge about a particular topic, or disagreement over how to interpret known facts. From an economic perspective, it makes measuring or predicting variables such as GDP or inflation more difficult.