President Trump has conditioned the presence of roughly 80,000 US troops in Europe on a deal over Greenland, an explicit linkage that forces European governments to confront how negotiable their American protection has become.
KNDS, Europe's biggest land-defence group, has postponed its planned Frankfurt and Paris listing, blaming a slump in defence shares. Its €33.1bn order backlog — which includes the Jaguar and Griffon vehicles bound for the Luxembourg army — is unaffected.
Germany's modernised military service law, in force since January 2026, relies on volunteers and mandatory registration while keeping conscription in reserve — part of a Europe-wide rearmament that reaches Luxembourg and NATO.