BRUSSELS -- The success of a key NATO summit hung in the balance on Friday, after Spain announced that it cannot raise the billions of dollars needed to meet a new defense investment pledge demanded by U.S. President Donald Trump.

Sweden and the Netherlands say they intend to increase defense spending to 5% of their gross domestic product in line with U.S. President Donald Trump’s demands

"Committing to a 5% target would not only be unreasonable, but also counterproductive, as it would move Spain further away from optimal spending and would hinder the EU's ongoing