Introduction
Greece plans to invest 25 billion euros in a multi-year defense program aimed at modernizing its armed forces. Prime Minister Kyriakos Mitsotakis announced this initiative in parliament on Wednesday.
Context
This initiative follows years of austerity resulting from the 2009-2018 debt crisis and seeks to strengthen Greece's military capabilities in light of ongoing tensions with Turkey.
Developments
The plan is expected to extend until 2036 and will include the acquisition of:
- New submarines
- Air, sea, and underwater drones
- A communications satellite
Additionally, funds will be allocated for the development of an anti-aircraft and anti-drone system known as the "Achilles Shield."
Mitsotakis emphasized that this investment is crucial for Greece's sovereignty, while also highlighting the need for fiscal prudence despite increased defense spending. Currently, Greece already allocates approximately 3% of its gross domestic product to defense, nearly double the EU average, as the bloc seeks to enhance its defenses amid concerns regarding its longstanding alliance with the United States.
Conclusion
This substantial investment reflects Greece's commitment to bolster its military strength in a challenging geopolitical landscape.