From CSIS's website:
The world is changing in fundamental—not incremental—ways, said Norwegian defense minister Espen Barth Eide at an event hosted by CSIS Europe Program director Heather Conley. As the collective GDP of the "West" declines relative to the rest of the globe, Minister Eide stressed the need for Europe and the United States to plan strategically for these new realities and make the transatlantic project prosperous again.
As the center of gravity shifts to Asia, the Pacific and the Arctic are becoming more strategically important for both the United States and Norway, Minister Eide said. NATO will play a critical role ensuring long-term security in Europe, he argued, but long-term vision and planning are essential to strengthening Europe's defense capabilities and preparing for shifting security challenges. With European defense capabilities getting weaker as budgets are cut across Europe, NATO risks being undermined at the core, he warned.
In Europe today, there is a crisis in the idea of "Europe," Minister Eide said. With ample room for xenophobic responses to the current economic crisis, institutions like NATO, the European Central Bank, and the International Monetary Fund will be essential to mitigating forces that in the 1930s turned an economic crisis into a security crisis, he argued. Going forward, Minister Eide stressed the need for "smart defense" among the NATO allies through investments in shared systems, shared platforms, and shared support.
http://csis.org/event/honorable-espen-barth-eide-minister-defense-norway