Henry Foy

They're going better than perhaps people feared they really would under Trump. The euro's up in the last six months. You've got a lot of money flowing into the stock market, specifically in defense stocks.

They're going better than perhaps people feared they really would under Trump. The euro's up in the last six months. You've got a lot of money flowing into the stock market, specifically in defense stocks.

They're going better than perhaps people feared they really would under Trump. The euro's up in the last six months. You've got a lot of money flowing into the stock market, specifically in defense stocks.

While this is probably not good for the U.S., European defense stocks soar. There's a certain amount of positivity coming back to Europe as... the feeling that by becoming more independent of the US and finding more sovereignty, that there could be actually a really good growth story here.

While this is probably not good for the U.S., European defense stocks soar. There's a certain amount of positivity coming back to Europe as... the feeling that by becoming more independent of the US and finding more sovereignty, that there could be actually a really good growth story here.

While this is probably not good for the U.S., European defense stocks soar. There's a certain amount of positivity coming back to Europe as... the feeling that by becoming more independent of the US and finding more sovereignty, that there could be actually a really good growth story here.

That contrasts massively with this fear from six months ago, which was that when Donald Trump became president, there would be this huge backlash against Europe and the European economy would get even more squeezed than it is already.

That contrasts massively with this fear from six months ago, which was that when Donald Trump became president, there would be this huge backlash against Europe and the European economy would get even more squeezed than it is already.

That contrasts massively with this fear from six months ago, which was that when Donald Trump became president, there would be this huge backlash against Europe and the European economy would get even more squeezed than it is already.

I mean, it was all really about expectations. There was this fear, of course, of the trade war and that these enormous American tariffs would really smother European exports and, you know... Regardless of the politics, Europe relies a huge amount on American trade. The coronavirus pandemic hit Europe really badly.

I mean, it was all really about expectations. There was this fear, of course, of the trade war and that these enormous American tariffs would really smother European exports and, you know... Regardless of the politics, Europe relies a huge amount on American trade. The coronavirus pandemic hit Europe really badly.

I mean, it was all really about expectations. There was this fear, of course, of the trade war and that these enormous American tariffs would really smother European exports and, you know... Regardless of the politics, Europe relies a huge amount on American trade. The coronavirus pandemic hit Europe really badly.

It found itself cut off from global supply chains, as did many countries of the world. But for Europe, it was quite a big crunch. You also then, of course, the Russian invasion of Ukraine. Russia was the biggest supplier of energy to the EU. So that conflict, the stance that the EU took, which was to stop buying Russian pipeline gas, pushed up energy prices to a level that was around four times

It found itself cut off from global supply chains, as did many countries of the world. But for Europe, it was quite a big crunch. You also then, of course, the Russian invasion of Ukraine. Russia was the biggest supplier of energy to the EU. So that conflict, the stance that the EU took, which was to stop buying Russian pipeline gas, pushed up energy prices to a level that was around four times

It found itself cut off from global supply chains, as did many countries of the world. But for Europe, it was quite a big crunch. You also then, of course, the Russian invasion of Ukraine. Russia was the biggest supplier of energy to the EU. So that conflict, the stance that the EU took, which was to stop buying Russian pipeline gas, pushed up energy prices to a level that was around four times

US average gas prices. So the European economy took a massive hit from that. Europe has really struggled to come out of that funk.

US average gas prices. So the European economy took a massive hit from that. Europe has really struggled to come out of that funk.

US average gas prices. So the European economy took a massive hit from that. Europe has really struggled to come out of that funk.

And then, yeah, in the last few months, there's been this kind of more optimistic rhetoric coming out of European capitals to say, OK, if the Americans are going to leave us by ourselves, we're going to have to do this and actually put some money behind our economy and get things moving.

And then, yeah, in the last few months, there's been this kind of more optimistic rhetoric coming out of European capitals to say, OK, if the Americans are going to leave us by ourselves, we're going to have to do this and actually put some money behind our economy and get things moving.