NATO is an alliance in name alone. The brewing conflict over territorial waters in the Eastern Mediterranean indicates that the military union of mostly Western countries is faltering.
Greece, which emerged from its third international bailout in 2018 and has been struggling with the economic impact of the novel coronavirus, wants to spend part of its multi-billion euro cash reserves on its defense sector.
The Central Bank of Egypt announced, on Monday, that its net international reserves increased by about $51m during August 2020, to reach $38.366bn, compared to $38.315bn in July 2020.
Currently, India and China are involved in a dangerous standoff in the eastern Ladakh after a violent clash broke out at the Line of Actual Control (LAC) in the Galwan valley that resulted in 20 Indian casualties.
As the India-China border conflict reaches a dangerous juncture, Chinese military spokesperson has warned the Indian side to refrain from threatening actions after Indian soldiers ‘illegally crossed the Line of Actual Control (LAC)’ and fired warning shots.