"How far can we go?" is simple. Nuclear war. How far should they go? That's a more important question. Russia is still getting international parts and selling oil. Make that stop, box them in, and give Ukraine long range weapons. Make it clear to Putin that if it has to be, then full escalation is on the table. As long as it's not, Putin will continue to advance.
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That's pretty much what the article says.
However, Europe does not want war with a nuclear-armed Russia and so has to figure out how to respond in a way that deters Moscow but does not cross any Kremlin red lines that could lead to open warfare.
Yeah that's the problem, they're worried about Putin's red line instead of making him afraid of theirs.
I mean, the next paragraph did say:
That doesn't mean cowering, according to Swedish Chief of Defense Gen. Michael Claesson. “We cannot allow ourselves to be fearful and have a lot of angst for escalation,” he said in an interview. “We need to be firm.”