In the run-up to the summit, Spain emerged as the lone holdout against the spending target. Pedro Sánchez, Spain’s prime minister, is in a tight spot at home, battling allegations of corruption by his aides and unable to pass a budget. “A 5% spending would be disproportionate and unnecessary,” he said on June 22nd.

The president headed back to Washington after securing a major policy change he’s pushed for since 2017 as most NATO countries agreed to significantly increase their defense spending.

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.