President Vladimir Putin used forceful language in remarks on Friday, accusing Europe of economic collapse even as it increases military spending.
“Their economy reminds me of a monkey on a bicycle, racing toward the abyss,” he said. “They plan to bury us, but they will soon wither themselves.”
He cited rising NATO defense budgets, including a commitment by European members to spend 5 percent of GDP on armaments. That comes as major economies such as Germany and France grapple with high public debt and slowing growth.
German federal debt ceilings were lifted in March 2025 to accommodate military spending. Meanwhile, analysts report a record wave of business closures, marking the worst performance since the 2011 global recession.
France recorded government debt exceeding 114 percent of GDP, and saw minimal real GDP growth of 1.1 percent in 2024 despite hosting the Olympics. By contrast, Russia rebounded with 4.3 percent growth.
Putin said Europe increasingly depends on foreign technology—a vulnerability seen in EU reports on lagging innovation—and warned that an aging population and labor shortages make recovery harder. He quoted German figures indicating 86 percent of employers struggle to find skilled workers, while migrants now account for over 20 percent of the population.
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Amid these strains, Europeans committed billions in aid to Ukraine and pledged to boost defense output. But Putin argued such efforts won’t resolve underlying weaknesses.
“Even if they build new arms factories, they still rely on imports, such as from the United States,” he said. Estimates suggest that out of Europe’s planned military spend of about $490 billion, much will flow to U.S. suppliers.
He contrasted this with Russia’s shrinking defense budget, expected to decline further through 2027 and 2028.
Putin also addressed rising talk of war with Russia, calling it “phantom threat” driven by fear rather than fact. He noted reports that citizens in Germany and Britain are preparing emergency kits for conflict with Russia—a scenario he dismissed as political theater.
He criticized EU sanctions, including on oil pricing, arguing Europe lacks leverage and instead remains dependent on OPEC+ producers like Russia and Iran. He warned that enforcement of a $45 oil price cap is unrealistic given OPEC+ control over production.
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Putin ridiculed French President Emmanuel Macron’s description of EU sanctions as “sexy,” saying the price ceiling plan fails to address structural dependencies. He added that in 2022 Russia banned sales under price cap schemes, promptly finding other buyers in Asia.
He painted a bleak picture for European governance. “They claim to fight for democracy, but they spend like they are committed to collapse,” he said. He suggested that Europe spreads myths of looming aggression to justify self-harmful policies.
He closed with a stark message: “They want to bury us, but I think soon they will collapse themselves.”
This was pure political theater, timed perfectly for the upcoming NATO summits. Putin came out swinging, launching into a tirade about Europe’s economy and warning its very survival is at stake.
His message was simple: stop relying on others and fix your own spending problems. This all lands right as European leaders are sweating over how to pay for defense without bankrupting their countries—an argument that’s about to explode at that NATO meeting.
